Convex Secures $57M for AI Cloud Infrastructure; Moove Raises $250M for Autonomous Mobility
Convex, a San Francisco devtools startup, raised $57 million in Series B funding led by Insight Partners to build cloud infrastructure for AI applications. Moove, a Lagos-based mobility platform, closed a $250 million Series C from investors including BlackRock and Uber to expand autonomous vehicle operations globally.
Convex, a San Francisco-based developer tools firm, secured $57 million in Series B funding led by Insight Partners. The capital is earmarked for building specialized cloud infrastructure designed to support artificial intelligence applications, positioning the company within the growing race to provide foundational tech for AI workloads.
Moove, headquartered in Lagos, closed a $250 million Series C round backed by BlackRock and Uber, with co-leads Mubadala and Toyota's fund. This funding supports the global expansion of its autonomous vehicle fleet operations. The deal reflects a broader investor shift toward capital-intensive, mission-critical systems, as seen in parallel rounds for AI agents, robotics, and energy storage.
The influx of capital into AI cloud infrastructure and autonomous mobility could accelerate the deployment of self-driving fleets and AI-driven enterprise tools, potentially reshaping urban transportation and labor markets. If these systems scale, they may reduce operational costs for businesses while displacing some human-driven roles. Conversely, improved efficiency could lower prices for consumers and enhance safety in logistics, though regulatory and ethical frameworks will likely need to adapt quickly to manage these transitions.