MOOVE, a partner company by Uber, announced the acquisition of the Brazilian startup Kovi, which offers vehicle rental plans. With the acquisition, the company now incorporates Kovi’s Internet of Things Software (IoT) and an algorithm that monitors the behavior of partner drivers.
According to Ladi Delano, co-president and co-president of Moove, Operation marks the entry of the company in Latin America and reinforces its commitment to the Brazilian economy. “Kovi has built an impressive business with strong dominance in the Brazilian market, known for being one of the most dynamic in the world. Its advanced technologies will be used in our portfolio so that we can focus even more on safety, efficiency and innovation with the use of AI, ”he said.
Moove says she has performed more than 50 million races in partnership with Uber and has captured more than $ 500 million with investors such as Blackrock, Mubadala, Franklin Templeton, Janus Henderson and International Finance Corporation (IFC).
