Led · Debt Financing · Jul 2023

Founded in 2020 in Nigeria and now headquartered in Dubai, Moove started as a vehicle-financing startup and expanded into ride-hailing and deliveries in Africa before moving into autonomous vehicle operations in 2023. The company currently owns and operates a 42,000-vehicle human-driven ride-hailing fleet across 14 countries and employs about 3,300 people globally while continuing to provide vehicle financing to gig drivers. Moove serves as the fleet operator for Waymo in Phoenix, Miami and Las Vegas and plans future operations in London; it also already owns robotaxi vehicles from another AV developer. The firm intends to acquire robotaxis via debt financing and aims to scale to potentially hundreds of thousands of vehicles over time. Moove is investing in automated depots called Nests to enable around-the-clock, robotics-assisted charging, maintenance and servicing, and expects its traditional mobility business to achieve full profitability this year.

Led · Debt Financing · Jan 2023

Teraco Data Environments operates data centres across Johannesburg, Cape Town and Durban and is described as Africa’s largest data-centre company. The company plans to almost double its data centre capacity to just under 200MW over the next three to four years. Teraco raised R11.8-billion in new funding; just under half of the loan financing was led by Absa Group and will be used as growth capital to expand solar capacity and data centres, with the remainder used to refinance existing facilities. As part of its energy strategy the company will build a utility-scale 100MW solar farm and add rooftop solar to its data centres. Management has set targets to generate half of its power from clean energy by 2027 and all of it by 2035, subject to approvals and grid connection from government and Eksom. Last year San Francisco-based Digital Realty Trust bought a majority stake that valued Teraco at about US$3.5-billion. Teraco Data Environments builds and operates vendor-neutral colocation data centres for demanding IT infrastructure requirements. Founded in 2007 and led by CEO Tim Parsonson, the company operates a control centre staffed by specialists who monitor client equipment and data centre environmental parameters 24/7. It completed a R158m Series C equity and debt financing to support growth. Teraco intends to use the funds to expand its Johannesburg colocation data centre to three times its current size. The company also plans to open two new colocation facilities in Durban and Cape Town. Its offering targets customers requiring high-availability IT infrastructure in South Africa.