MOOV

About MOOV

Moov Technologies, Inc. operates a global marketplace and asset management platform for pre-owned semiconductor manufacturing equipment. Founded in late 2017 by Steven Zhou and Maxam Yeung, the company was established to bring efficiency and automation to the traditionally opaque and fragmented secondary market for semiconductor assets. The founders leveraged over a decade of combined experience in semiconductor investment and asset trading to create a technology-driven solution. The company's core offering is a full-stack digital marketplace that connects buyers and sellers of manufacturing equipment worldwide. The platform provides a comprehensive ecosystem that includes service, logistics, and insurance providers to facilitate transactions. Key features include a large inventory of available equipment, smart matching technology, secure payment processing, and end-to-end managed logistics. Moov offers a "white glove service" that handles tasks such as de-installation, crating, shipping, and customs, simplifying the complex process of equipment procurement and sales. The platform also incorporates advanced tracking technology for real-time shipment monitoring. Moov serves top manufacturers within the semiconductor industry, helping them monetize surplus equipment and acquire necessary tools with shorter lead times and at a lower cost compared to new OEM products. The business model is centered on its marketplace, likely earning revenue through transaction fees, alongside charges for its extensive logistics and aftermarket services. The platform also features an asset management component, allowing businesses to manage their equipment inventory effectively. Headquartered in Tempe, Arizona, a growing semiconductor hub, Moov has expanded its presence globally with offices in key regions across Asia and the U.S. The company is backed by significant venture capital, having raised a $41 million Series A round led by Tiger Global, with participation from notable investors like Atreides Management, Valor Equity Partners, and Mark Cuban. This funding has been directed towards expanding its global footprint and enhancing its technology platform.