Moove Acquires Kovi to Strengthen Global Mobility and Expand in Latin America
Moove, a global leader in mobility solutions, has announced the acquisition of Kovi, a São Paulo-based urban mobility provider, in a strategic move to expand its presence in the Latin American market. The acquisition aligns with Moove’s vision of building the world’s largest rideshare fleet while enhancing its cutting-edge mobility technologies.
Expanding Moove’s Global Footprint
Since its launch in 2020, Moove has revolutionized mobility marketplaces by providing dedicated vehicle supply through its Drive-to-Own, Taxi, and Autonomous fleet models. With the addition of Kovi, Moove’s total global fleet has now grown to 36,000 vehicles across 19 cities on six continents.
The acquisition not only strengthens Moove’s position as a dominant player in global mobility but also integrates Kovi’s proprietary IoT software and advanced driver behavior algorithms. These technologies will enhance Moove’s AI-powered mobility strategy, reinforcing its leadership in mobility innovation and autonomous vehicle development.
Founded in 2018, Kovi has made vehicle ownership more accessible through innovative financial solutions and technology-driven support for ride-hailing drivers. With a strong presence in Brazil and Mexico, the company’s rapid growth and data-driven approach to fleet management will add significant value to Moove’s global operations.
By leveraging Kovi’s expertise, Moove aims to enhance service delivery, optimize safety and efficiency, and accelerate its expansion into high-growth Latin American markets.
Ladi Delano, Co-Founder and Co-CEO of Moove, said:
“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.”
Adhemar Milani Neto, CEO of Kovi, said:
“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. 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. We are also excited to continue our expansion across LaTam now with robustness with such strong partners.”
The completion of the acquisition is subject to regulatory approvals, including clearance from the Brazilian antitrust authority. Once finalized, the deal will mark a new chapter in Moove’s global expansion, positioning the company as a leader in mobility innovation across multiple continents.
