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Moove raises $250m in Mubadala-led round at $2.1bn valuation

Moove, founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, finances, owns and operates vehicles used by mobility platforms

Neesha Salian
Neesha Salian

06 August, 2026

Moove raises $250m in Mubadala-led round at $2.1bn valuation
Image: Moove

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UAE-headquartered mobility company Moove has raised $250m in a Series C funding round that valued the business at $2.1bn, as it seeks to expand the infrastructure supporting autonomous vehicle operations globally.

The round was led by Abu Dhabi sovereign investor Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and investment firm Ion Pacific. BlueCrest Capital Management and Sona Capital also participated.

Moove said the funding would support the expansion of its autonomous vehicle business, including fleet ownership and the development of robotics-focused depots known as “Nests”. The facilities are designed to charge, service, maintain and coordinate autonomous vehicle fleets around the clock.

Funding autonomous mobility infrastructure

The company also plans to use the capital for launches in new markets and expects to increase its autonomous vehicle workforce from about 150 employees to around 500 by the end of 2026.

Moove, founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, finances, owns and operates vehicles used by mobility platforms. The company is now headquartered in the UAE and employs about 3,300 people globally.

It operates approximately 42,000 vehicles across 29 cities in 13 countries, up from an initial fleet of 76 vehicles in Lagos, according to the company. Moove said it had reached annual recurring revenue of $420m.

The company has expanded through acquisitions including Brazilian mobility platform Kovi and Tokyo Taxi in Japan.

Moove is also a fleet operations partner of Alphabet-owned autonomous driving company Waymo. Its operations with Waymo are active in Phoenix and Miami, while London has been identified as the partnership’s first international autonomous vehicle market.

Waymo announced in October 2025 that it intended to offer fully autonomous rides in London in 2026, subject to securing the necessary regulatory approvals. Moove is supporting the operational groundwork for the planned service.

“Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city, and that is what Moove is building,” Moove co-founder and co-chief executive Ladi Delano said.

Moove plans to apply its experience in vehicle financing, charging, maintenance, logistics and fleet management to autonomous transportation as driverless services expand into additional markets.

Mubadala boosts investment in Moove

Mubadala first invested in Moove three years ago.

“As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important,” said Ali Eid AlMheiri, executive director of diversified assets at Mubadala’s UAE Investments Platform.

“Mubadala is investing in enabling infrastructure and scalable platforms like Moove that support economic diversification and strengthen the UAE’s role as a hub for advanced technologies.”

Moove’s existing investors include BlackRock, MUFG, Franklin Templeton and Uber.

Read: Mubadala Capital inks agreement to buy French hospitality company Pierre et Vacances

ADNOC Distribution’s Athmane Benzerroug on retail media, non-fuel growth and a greener network

ADNOC Distribution is transforming the traditional fuel stop into a connected platform for retail, mobility, media and sustainable growth, says Benzerroug

Neesha Salian
Neesha Salian

05 August, 2026

ADNOC Distribution’s Athmane Benzerroug on retail media, non-fuel growth and a greener network
Image: Supplied

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Ask most people what ADNOC Distribution does and the answer is fuel. Ask Athmane Benzerroug, ADNOC Distribution’s chief strategy, transformation and sustainability officer, and you get a different word: platform.

With the launch of Engage by ADNOC, a retail media network that turns the group’s daily customer traffic into an advertising business, the UAE’s largest mobility and convenience retailer is making its clearest statement yet that the forecourt has become the front door to something much larger.

Engage by ADNOC, unveiled on July 29, is billed as the first full-funnel retail media network operated in the UAE by a mobility and convenience retailer. It lets brands advertise to ADNOC Distribution’s customers across the company’s own physical and digital channels: the ADNOC Rewards app, online platforms, screens at service stations and inside Oasis by ADNOC stores.

Crucially, it also lets them measure the results.

For Benzerroug, the timing is deliberate. “It is the right time, and let me give you the big picture,” he says. “Retail media is growing at double digits globally. This is called the third wave of digital advertising. Now is the right time because the platform is ready.” The reach, he argues, is what makes it work: nearly 700,000 customers served every day, more than 250 million transactions a year, and over 2.7 million ADNOC Rewards members. “We have the relationships with the customers and the brands, and we have the digital and loyalty infrastructure to make retail media relevant and measurable at scale.”

He frames Engage as the logical next stage of a longer journey. “Engage by ADNOC is the natural next step in our evolution: the vision is to move from a fuel retailer into a customer-centric mobility and convenience platform. It connects the brands with the customers across our stations, the Oasis convenience stores, the digital channels and the ADNOC Rewards touchpoints.”

For investors, he says, the message is simple: “This is an asset-light growth opportunity that monetises the infrastructure and the customer traffic we already have.”

Value from what it already owns

The commercial logic, in Benzerroug’s telling, rests on assets the company does not have to build. “Financially, this creates a new revenue stream from assets already embedded in our business,” he says. “It is about creating value from the customer journeys, the station traffic, the digital channels and the loyalty engagement that we already own. The model is attractive because it is asset-light, scalable and aligned with our non-fuel retail growth strategy.”

That non-fuel business is now the company’s fastest-growing engine, and Benzerroug is quick to explain how it fits together. “When you come to the station, the first touchpoint is either the fuel or the charging. The second touchpoint is the non-fuel retail: the convenience stores, the car wash, the lube change and the quick-service restaurants.” The numbers behind it are striking: non-fuel retail gross profit grew more than 14 per cent year-on-year in 2025, with a further 10 per cent in the first quarter of 2026, comfortably outpacing fuel volumes. “Non-fuel retail has been growing at double digits, much faster than fuel volumes,” he says, “and Engage by ADNOC adds a structured media layer to that growth engine.”

Engage itself is expected to generate more than $25m in cumulative gross profit over its first five years.

With roughly two-thirds of all fuel transactions in the UAE taking place across its network, ADNOC Distribution can offer brands one of the country’s highest-frequency audiences, a reach Benzerroug returns to repeatedly. The platform brings together a growing ecosystem of partners spanning media, data, AI and measurement: Publicis Groupe, Pyxis, a subsidiary of International Holding Company, LiveRamp and Network International. “The platform combines media, data, AI and measurement capabilities to help brands engage customers in a more relevant and measurable way,” Benzerroug says. “That is what they care about: making sure they can address the right customers at the right time.”

Two customers, one network

He is careful to distinguish the two audiences Engage serves. “Let me start with the customers,” he says. “We are bringing a more personalised shopping experience and new product discovery backed by data insights, analytics and AI, and this is why the 250 million transactions matter. We are leveraging the ADNOC Rewards programme.” He offers a yardstick for that scale: “If you do a simple search online, you will see the total number of cars in the country is roughly five million, so the ADNOC Distribution loyalty app is central to this.” All of that audience insight, the company notes, is used in line with applicable privacy requirements and customer consent.

For brands, the draw is access. “It is an opportunity to leverage the important touchpoints in our daily customer journey,” he says. “They will now be able to reach ADNOC Distribution customers across our network and online. They will have access to high-frequency audiences at scale, because we are the largest player in the UAE, serving more than 700,000 customers every day.”

Pressed on whether this is, in essence, monetising the network, Benzerroug does not hesitate. “The discussion I have with our CEO and my fellow chiefs is always: what is the most important asset we have? It is our network. We have the scale, and we can leverage the important touchpoints in the daily customer journey.” The result, he says, is meant to work for everyone. “It is about connecting the brands and the customers through this loyalty programme, data insights, analytics and AI, so that for both of them it is a win-win. And at the end of the day, we are monetising our network.”

The greener forecourt

Retail media is only one strand of Benzerroug’s remit; sustainability is another, and he insists it is core rather than cosmetic. “Sustainability is core to the business, not a fancy word,” he says. “Over the past three or four years, ADNOC Distribution has delivered tangible initiatives to decarbonise.” The headline target is a 25 per cent reduction in emission intensity by 2030; notable, he stresses, “for a network that is growing.”

The initiatives behind the number are deliberately practical. “We bring fuel from the depots to the stations,” he says, describing a UAE network of more than 560 stations, over 60 per cent of it company-owned, “so those trucks consume fuel. We have shifted 1 per cent of the owned trucks to biofuel.” At the stations, the focus turns to electricity. “In the convenience store there is air conditioning, refrigeration, coffee machines: we are changing the AC for the optimum units and converting lighting to LED.”

His summary of the approach is characteristically blunt: “I like to say common sense is not common. It is simple, but you have to check that every element is compliant with what we want to achieve.” Then he points upward. “You look up at the roof: we are installing solar panels at more than 100 stations, generating green energy.”

Electric vehicles complete the picture, through the company’s E2GO charging brand. “Through EV charging we allow customers to run kilometres with a lower emission footprint.” The cumulative effect, he says, has been a marked climb up the ESG rankings. “ADNOC Distribution is a listed company closely followed by investors and ESG rating agencies. While we were once unranked, we are now among the world’s top three mobility and convenience companies for sustainability,” he adds.

Building the destination

The wider transformation, Benzerroug says, is about making customers choose ADNOC Distribution “again and again”, turning a fuel stop into a destination. “Transformation is about making this physical network deliver the best assets for them: the best convenience stores, with fresh food and well-priced coffee; upgraded car washes with the latest tunnel technology; better bundled offerings across car wash and lube change; and the right quick-service restaurants.”

Digitalisation and payments, he adds, run through all of it.

The clearest expression is The Hub by ADNOC. “The hub is a community hub attached to the stations,” he says, “to make sure people choose ADNOC Distribution, and they have better options.” These larger community sites add non-fuel retail, playground areas, coffee, padel courts and supermarkets, all in Abu Dhabi.

Going global

The final piece is international, pursued “in a disciplined manner,” Benzerroug says. “We are already in Saudi Arabia and Egypt, both delivering good growth, and we are focused on improving the customer experience there.” Then comes the boldest step. “One month back, on July 7, we announced the acquisition of Shell Downstream South Africa. It is 580 stations.”

That deal, signed for an implied enterprise value of about $1bn, is ADNOC Distribution’s largest overseas acquisition to date. It operates 580 fuel stations, along with wholesale fuel, aviation, and lubricants operations. It would expand the group’s global network by around 55 per cent to roughly 1,600 sites while lifting annual fuel volumes by about a fifth.

South Africa becomes the company’s fourth market, and Benzerroug is clear about the appeal. “It is a country with a protective regulatory framework, long-term fuel growth driven by a young driving-age population, and government investment in infrastructure over the next three years.”

The transaction is expected to close in 2027, subject to regulatory approvals.

Now in its 52nd year, ADNOC Distribution has been fuelling journeys since 1973; today it operates 1,032 stations across the UAE, Saudi Arabia and Egypt, 386 Oasis convenience stores and 400 E2GO charging points, and sells lubricants in 53 countries. For Benzerroug, though, the agenda reduces to something simpler. “The focus is to continue to grow, give a better customer experience every day, and create value for shareholders.” Fuel remains the foundation. The growth, increasingly, is everywhere else.

Dubai gets ahead: City claims global No. 2 spot in AI and intelligent technology race

The Intelligent Cities Index evaluates how effectively cities deploy digital technologies and AI to deliver measurable outcomes for residents and businesses

Nida Sohail
Nida Sohail

05 August, 2026

Dubai gets ahead: City claims global No. 2 spot in AI and intelligent technology race

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Dubai has secured the second spot globally in the inaugural Intelligent Cities Index published by the Boston Consulting Group (BCG), further cementing its reputation as one of the world’s leading hubs for artificial intelligence and digital transformation.

The ranking, which assessed 61 cities across 39 countries, underscores Dubai’s continued investment in advanced technologies to improve quality of life, enhance government services, and strengthen the business environment. The achievement reflects the emirate’s long-term strategy of building a human-centric, future-ready digital ecosystem, according to a WAM report.

Read more-You clicked ‘Apply’ — now what? What GCC hiring platforms really do with your resume

Published for the first time by Boston Consulting Group, the Intelligent Cities Index evaluates how effectively cities deploy digital technologies and AI to deliver measurable outcomes for residents and businesses. The assessment covers five key pillars—Outcomes, Strategy, Adoption, Ways of Working, and Enablers—and is based on 35 indicators spanning 14 dimensions of digital transformation.

Dubai leads the world in AI Adoption

While Dubai ranked second overall in the index, it claimed the top global position in the adoption of AI technologies and smart city solutions, emerging as the strongest performer across the report’s five evaluation categories.

According to the report, Dubai’s extensive implementation of AI applications and digital services across multiple sectors has enabled it to achieve one of the highest levels of digital maturity among the cities assessed. The report noted that the emirate has successfully translated advanced technologies into practical solutions that generate measurable value for residents, businesses, and government entities.

The findings reinforce Dubai’s position as a global leader in deploying technology to accelerate sustainable development while enhancing competitiveness on the international stage.

Digital strategy drives growth

Commenting on the achievement, Hamad Obaid Al Mansoori, director general of Digital Dubai, said, “This outstanding global ranking reflects the success of our wise leadership’s vision, which has established digital transformation and AI as strategic priorities for building a more efficient government and a future-ready city. Dubai’s achievement is the result of an integrated digital ecosystem built on data, shared digital infrastructure, and close collaboration across government entities and all economy sectors. This ecosystem enables advanced technologies to be transformed into practical services and solutions that create tangible value for society while fostering the competitiveness of our economy.”

He added, “In Dubai, AI is more than an emerging technology, it is a catalyst for improving quality of life, simplifying services, and enabling economic growth. We will continue investing in shared digital infrastructure while expanding the use of data and AI across all sectors, reinforcing Dubai’s position as a global model for the cities of the future.”

Innovation ecosystem strengthens competitiveness

Khalfan Juma Belhoul, Chief Executive Officer of the Dubai Future Foundation, said the latest ranking reflects the city’s long-term commitment to embedding emerging technologies across the economy.

“This ranking reflects the success of Dubai’s forward-looking approach, which focuses on transforming emerging technologies into practical applications that benefit both people and the economy. Leadership in AI is not measured by the number of technologies adopted, but by their ability to deliver meaningful impact, improve productivity, and unlock new opportunities for growth and innovation,” he said.

Belhoul added, “Dubai continues to set a global benchmark for future readiness by advancing an integrated ecosystem that combines innovation, research and development, agile regulation, and strategic partnerships. This ecosystem is accelerating the adoption of AI across all sectors while strengthening the city’s ability to seize future opportunities and pioneer new models for sustainable development.”

AI delivering real-world results

The BCG report concluded that cities placing AI at the centre of public services and operational models are seeing faster and more sustainable improvements in service delivery and quality of life.

It also found that leading AI cities tend to maintain a broader portfolio of real-world AI applications while consistently recording higher levels of resident satisfaction. The report highlights a growing global shift from treating AI as a supporting technology to embedding it at the core of city operations.

In addition, the report identified a strong correlation between the frequent use of generative AI tools and higher levels of public trust in the technology, alongside more positive expectations about its future role. Cities across the Middle East, including Dubai, were also recognised for demonstrating particularly strong enthusiasm toward adopting and scaling AI technologies.

Dubai’s latest global recognition reinforces its ambition to remain at the forefront of digital innovation, with continued investments in AI, smart infrastructure, and collaborative ecosystems expected to support future economic growth and strengthen its position as a leading global destination for business, technology, and innovation.

Dubai businessman Satish Sanpal denies Indian reports of UAE assets freeze

The Netflix Desi Bling star tells Gulf Business his businesses continue to operate as normal after hitting back at reports published by Indian media

Gareth van Zyl
Gareth van Zyl

05 August, 2026

Dubai businessman Satish Sanpal denies Indian reports of UAE assets freeze
Satish and Tabinda Sanpal. (Image: Supplied)

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Netflix Desi Bling star and Dubai businessman Satish Sanpal has denied reports published by Indian media claiming that UAE authorities had ordered a temporary freeze on assets belonging to him and his wife as part of a money laundering investigation.

“It is disappointing to see information being circulated by certain media publications in a manner that raises questions about the motives behind it,” Sanpal told Gulf Business in an exclusive statement.

“The reasons remain unclear, but my focus remains on my businesses and on protecting myself, my family, and the employees I am responsible for from any unwarranted harm this may cause.”

In a separate official statement issued through his representatives on Tuesday, Sanpal said no competent authority had made any public announcement regarding the allegations.

“We wish to clarify that, to date, no competent enforcement or regulatory authority has issued any official announcement or public disclosure concerning the allegations being reported,” the statement said.

“We kindly ask publications to exercise appropriate care in verifying information obtained from unofficial sources before reporting or repeating such information.”

At the time of publication, UAE authorities had not publicly commented on the reports.

Sanpal’s statement also stressed that the reports had no impact on the operations of ANAX Developments, the group’s real estate arm.

“The matters referred to in the recent reports do not affect ANAX Developments’ operations, governance, contractual commitments, financial arrangements or ongoing business activities,” the statement said.

“The company continues to operate in the ordinary course, and all projects, banking arrangements, escrow accounts and business operations remain fully operational.”

Sanpal is the founder and chairman of ANAX Holding, a Dubai-based investment group with interests spanning real estate, hospitality and strategic investments.

Earlier this year, he and his wife, Tabinda, appeared in Netflix’s Desi Bling, a reality series following the lives of wealthy South Asians in Dubai.

The statement concluded by saying Sanpal “expressly reserves all rights and remedies available under applicable law” against any publication he believes to be false, misleading, defamatory or otherwise unlawful that could unjustifiably damage his reputation, business interests or legal rights.

WhatsApp’s biggest update yet? New calling tools and exciting features arrive for users

One of the biggest additions is Web Calling, which allows users to make and receive audio and video calls directly through WhatsApp Web without downloading an additional application

Nida Sohail
Nida Sohail

05 August, 2026

WhatsApp’s biggest update yet? New calling tools and exciting features arrive for users

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WhatsApp is rolling out a major set of updates aimed at making communication easier across devices, improving group conversations, and giving users more control over how they connect.

The messaging platform has introduced new calling capabilities on WhatsApp Web, along with upgrades to group chats, including enhanced polls, @all mentions, and faster ways to create new conversations from existing groups.

The latest improvements come as WhatsApp continues to strengthen its position as one of the world’s most widely used communication platforms, with more than 100 million users in the US and over 3 billion users globally.

Image credit: WhatsApp blog

WhatsApp brings calling features to the web

One of the biggest additions is Web Calling, which allows users to make and receive audio and video calls directly through WhatsApp Web without downloading an additional application.

The feature is designed for users who rely on shared computers, workplace devices that restrict app installations, or those who simply prefer using a browser. Users can now access one-on-one and group calls while staying within their existing web experience, a WhatsApp blog conveyed.

Read more-WhatsApp’s latest update changes how you chat: Here’s what’s new

WhatsApp said the web-based calling experience includes many of the same features available across its other platforms, including screen sharing, reactions, a dedicated Calls tab, call history, and favorite contacts.

The company emphasized that calls made through the web remain end-to-end encrypted, with no time restrictions and no additional costs.

New tools make calls more flexible and reliable

Alongside Web Calling, WhatsApp has introduced several features designed to improve how users manage conversations across multiple devices.

The new Call Transfer feature allows users to move an active group call from one device to another without disconnecting. For example, someone can begin a call on a smartphone while traveling and transfer it to WhatsApp Web or Desktop after reaching home or the office.

The company is also adding Waiting Room controls for group calls. When users create a WhatsApp call link and enable the “Require approval to join” option, participants will enter a waiting room until the host approves their entry.

WhatsApp is also improving video quality with QuickHD, which allows users to experience high-definition video within the first few seconds of a call instead of waiting for quality improvements during the conversation.

In addition, Noise Suppression technology has been introduced to reduce background sounds and make voices clearer, especially in busy environments. Users can manage the feature through their in-call settings.

WhatsApp said these calling updates are being released gradually and will become available to all users soon.

Image credit: WhatsApp blog

Group chats get faster decision-making tools

WhatsApp is also upgrading group chats with new features designed to improve collaboration and make conversations easier to manage.

The company has enhanced polls by adding three new capabilities: the ability to set an expiration time for voting, hide voter names for more privacy, and edit poll questions within 15 minutes after they are created.

The improvements are aimed at helping groups make decisions faster, whether they are choosing meeting locations, organizing events, or coordinating plans.

Another major addition is the @all feature, which allows users to notify everyone in a group chat at once instead of manually tagging individual members.

The feature is intended for important updates such as workplace announcements, event changes, deadlines, or urgent planning messages. For groups with more than 32 members, WhatsApp will limit the ability to use @all mentions to administrators.

While @all notifications can appear even in muted group chats, users will still have control over their notification preferences and can disable these alerts through settings.

WhatsApp makes creating new groups easier

The platform is also simplifying how users create new group chats. A new feature allows people to quickly start a separate conversation with members from an existing group without adding participants individually.

WhatsApp said the update could be useful for creating side discussions, organizing surprise events, managing logistics, or continuing conversations without overwhelming the main group.

The company has continued expanding group chat capabilities throughout the year, previously introducing features such as group message history, member tags, and event reminders.

With the latest updates, WhatsApp is positioning its platform as more than just a messaging service, adding tools that support personal conversations, workplace communication, and large-scale community interactions.

The company said the new calling and group chat features reflect its continued focus on making communication simpler, more private, and more flexible across devices.

Dubai clarifies cause of last night’s Dubai South fire

The latest incident comes just days after Dubai Civil Defence responded to a gas cylinder explosion at a car exhibition on Sheikh Zayed Road

Rajiv Pillai
Rajiv Pillai

05 August, 2026

Dubai clarifies cause of last night’s Dubai South fire
Image: Adobe Stock

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A fire that broke out in Dubai South on Tuesday night was caused by an incident at a workshop, damaging several trucks and caravans before being brought under control, according to Dubai Civil Defence.

In a statement posted by the Dubai Media Office on X, authorities said Civil Defence teams responded to the blaze, which spread to several vehicles at the site.

“The fire was extinguished, with no injuries reported,” the statement said.

View post on X

No further details on the cause of the workshop incident or the extent of the property damage were immediately disclosed.

The incident prompted a rapid response from Dubai Civil Defence, which confirmed the situation had been brought under control without any casualties.

The latest incident comes just days after Dubai Civil Defence responded to a gas cylinder explosion at a car exhibition on Sheikh Zayed Road. That incident resulted in the death of one person and injuries to five others, while emergency teams secured the site and continued response operations.

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