
""This investment marks a turning point, not just for Sherbet, but for the future of the black cab industry," said Moses. "The black cab is a globally recognised symbol of London - trusted, iconic and deeply woven into the city's identity. Yet for too long, it has lacked a dedicated guardian committed to modernisation.""
""Our mission is to step into that role, not only to preserve its heritage, but to equip the trade with the technology, data and scale it needs to thrive. With this investment, we're laying the foundation to reposition the licensed industry and establish Sherbet as its new home: electric, innovative, and built for the future.""
Sherbet, The Electric Taxi Co, received up to £40 million from HOF II Holdco S.à r.l., advised by Hoplon Investment Partners. The funding is the largest single growth-capital injection in London's licensed taxi trade. Sherbet currently operates about 550 electric cabs and plans to grow its fleet to 3,000 vehicles over three years. The company aims to consolidate the licensed industry under one brand and offer independent drivers a new platform. The investment will also fund a driver-focused technology platform combining bookings, data, advertising, and analytics to help drivers increase earnings and modernise the trade for global expansion.
Read at Business Matters
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