Waymo Fleet Manager Targets Funding That Would Lift Valuation Past $1 Billion

Waymo cars are seen parked at a Waymo facility on June 10 in San Francisco.

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Moove, a five-year-old startup whose employees clean and charge Waymo’s electric robotaxis, is aiming to raise about $300 million in new funding, according to a person who spoke to the startup’s executives. The new round is likely to lift the Uber-backed company’s valuation past $1 billion, according to an investor in Moove.

The startup recently generated annualized revenue of $360 million, mostly from its main business of extending loans to Uber drivers, according to Moove Co-CEO Ladi Delano. That’s up from $115 million just over a year ago. The Dubai-based company has also started to generate revenue from Alphabet-owned Waymo, which is expanding in several U.S. markets.