Blacklane, the chauffeur services provider, has partnered with UAE-based business conglomerate Gargash Group, as its most recent investor, alongside long-time backer Mercedes-Benz Mobility, which also joined the round.
This series F financing round brings a significant Million Dollar investment in the double digits at a valuation roughly 50 percent higher than the previous one from 2020.
Read more: Ain Dubai, Mercedes-Benz enter 3-year partnership
With the new investment, Blacklane will focus on its fleet’s transition to electric vehicles (EVs) including a retained super-charging network to accelerate its race to net zero and satisfy growing customer expectations.
Gargash Enterprises and Mercedes-Benz Mobility’s support is accelerating Blacklane’s ability to transition to EVs, perfecting its service blueprint, and introducing it to other cities worldwide.
While Gargash Enterprises contributes its local expertise and sustainability know-how, Mercedes-Benz Mobility provides Blacklane with world-class electric vehicles optimized for perfect chauffeur service experiences. Mercedes-Benz Mobility, an investor since 2013, holds a brand share of more than 50 percent of Blacklane’s global fleet.
Commenting on this, Jens Wohltorf, CEO and founder of Blacklane, said: “Dubai is an important gateway for international clients, a key leisure and commercial city, hungry for innovation, and committed to sustainability.”
For his part, Shehab Gargash, Managing Director and Group CEO of Gargash Group, said: “Our decision to make this investment at this juncture is very much aligned with how we see our industry evolving.”
