Moove Acquires Brazilian Mobility Startup Kovi

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Moove, the mobility firm from Africa, has acquired Kovi, an urban mobility provider headquartered in São Paulo in a move to advance mobility and expand its footprint in the rapidly growing Latin American market.

The acquisition increases Moove’s total global fleet to 36,000 vehicles and operations to 19 cities across 6 continents where Moove provides dedicated supply via Drive-to-Own, Taxi, and Autonomous fleets.

According to Ladi Delano, Co-Founder and Co-CEO of Moove, “Kovi has built an impressive business with a robust presence in Brazil, one of the most dynamic mobility markets in the world. We’re thrilled to welcome them to the Moove family. This transaction not only strengthens our footprint in Latin America and reinforces our position as a dominant player in global mobility, but it also underscores our commitment to contributing to the Brazilian economy. Kovi’s proprietary IoT software and advanced driver behaviour models complement our existing capabilities, supporting our focus on safety, efficiency, and innovation in AI mobility.”

The deal not only strengthens the company’s position as one of the world’s largest rideshare fleet operators, but incorporates Kovi’s proprietary IoT software and advanced driver behaviour algorithm, which complement Moove’s existing focus on safety and efficiency. These innovations will strengthen Moove’s AI mobility strategy, further advancing its position as a global leader in mobility and autonomous vehicle innovation, while also reinforcing its commitment to driving economic growth in Latin America.

Founded in 2018, Kovi has established itself as a pioneering force in making car ownership more accessible and efficient through innovative technology and financial solutions. With a robust fleet and a strong presence in Brazil and Mexico, Kovi has demonstrated impressive growth since inception. Its innovative approach to driver support and its strong foothold in Brazil bring significant value to Moove’s global operations, strengthening its ability to expand into high growth markets and drive impactful change in mobility.

Kovi’s data-driven approach to vehicle management and user experience will complement Moove’s existing capabilities, enabling the company to offer superior services to its customers.

“Today, we stand at the forefront of a new era in mobility, and we believe that Moove has done a fantastic job at scaling their business on a global scale and with the right strategic angles,” said Adhemar Milani Neto, CEO of Kovi. “I met the founders many years back when they were scaling their business in Africa, and I was immediately impressed by their purpose-driven approach, which is also a perfect match to our culture. Together, I believe we will become a truly global category-defining business and will leverage scale and deep expertise never seen in our market.”

Kovi will still expand across LaTam after the acquisition.

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