Kovi
São Paulo-based company that rents cars to ride-hailing and delivery drivers in Brazil. Founded in 2018, it raised a $104 million Series B in 2021 and agreed to be acquired by Moove in 2025.
Industry: Car rental for ride-hailing drivers | Location: São Paulo, Brazil | Founded: 2018 | Total Funding: USD 104M
About Kovi
Kovi is a São Paulo-based company that rents cars to people who drive for ride-hailing and delivery platforms. Its website names Kovi Tecnologia S.A. in a 2026 footer and gives an address on Avenida das Nações Unidas in São Paulo. The site lists flexible plans with a minimum term of eight weeks that include vehicle tax, maintenance, a protection package and 24-hour assistance, and annual plans with a backup car and an option to buy from the 13th month.
Kovi was founded in 2018 by Adhemar Milani Neto and João Costa, both former executives of the ride-hailing company 99. Milani Neto is chief executive, and Hyperlatam described Costa in April 2023 as chief technology and product officer. TechCrunch reported in 2021 that Kovi rented connected cars on all-inclusive subscriptions, mainly to ride-hailing and food-delivery drivers, using an asset-light model with rental agreements with automakers such as Toyota and Volkswagen. Moove describes Kovi's technology as proprietary Internet of Things software and a driver behaviour algorithm.
In 2021 TechCrunch said Kovi operated in Brazil and Mexico, and Moove's January 2025 announcement gave the same two. The company's website lists 14 physical stores in Brazil, including São Paulo, Porto Alegre, Belo Horizonte and Recife.
On 18 August 2021 TechCrunch reported that Kovi had closed a $104 million Series B co-led by Valor Capital Group and Prosus Ventures. Quona and Monashees also took part. The round brought total equity raised to about $145 million, and Kovi had recently closed a $20 million debt facility. TechCrunch put its fleet at about 12,000 cars, with a goal of adding 20,000 more by the end of 2021.
Moove announced on 29 January 2025 that it would acquire Kovi, subject to customary closing conditions including approval from Brazil's antitrust authority. ITWeb Africa reported on 30 January that the deal was an all-share transaction, that regulatory approvals were pending, and that Kovi's brand and management would remain. Moove said the combined fleet would reach 36,000 vehicles in 19 cities, with annual recurring revenue above $275 million. TechScoop's August 2026 coverage lists Kovi among Moove's acquisitions.
Leadership
- Adhemar Milani Neto, Co-founder and Chief Executive Officer
- João Costa, Co-founder, Chief Technology and Product Officer