Mauritius-based investment firm Silverbacks Holdings revealed on August 13, 2026 that its cumulative stake in Moove now exceeds $37 million — and that this holding is valued at over $62 million following a $250 million Series C round that valued the unicorn at $2.1 billion.
Moove: The Autonomous Mobility Unicorn
Founded in Lagos (Nigeria), Moove operates an infrastructure platform for autonomous mobility: the company manages approximately 42,000 vehicles across 29 cities in 13 countries, with annual recurring revenue of around $420 million. The $250 million Series C is led by Mubadala Investment Company (Abu Dhabi), with Woven Capital — Toyota's growth fund — and Ion Pacific as co-investors. Proceeds will finance electric vehicle fleet deployment, charging infrastructure and operating systems.
Silverbacks: A Mauritius-Based Pan-African Investor
Silverbacks Holdings describes its investment in Moove as its «largest exposure to an African-born technology company» to date. The Mauritius firm has invested across multiple rounds in Moove, bringing its total commitment above $37 million. The unrealised gain is already substantial: the stake is now valued at over $62 million, representing a multiple above 1.6x on capital invested.
Mauritius as an African Tech Investment Hub
Silverbacks' presence in Moove's cap table illustrates Mauritius' growing role as a technology investment hub in Africa. An increasing number of African and pan-African investment funds are domiciled there, combining a solid legal framework, double taxation treaties and access to global capital markets.
Why It Matters
Silverbacks' investment in Moove shows that a Mauritius-based fund can back African tech unicorns at early stages and see its stake multiply significantly. This signals that the Mauritian financial ecosystem is no longer merely channelling foreign capital into Africa — it is itself generating returns from the continent's most promising startups.
Sources: Tech in Africa, TechMoran, Launch Base Africa, AllAfrica — August 6-13, 2026.