Blacklane, a chauffeur services provider based out of Berlin, has raised series F funding from a consortium backed by its existing investor Mercedes-Benz Mobility and UAE-based holding company Gargash Group.
The exact figure has not been disclosed, with Blacklane only confirming a "significant million dollar investment", specifically in "middle double-digit" million euros.
The funding came in at a valuation around 50% higher than at its last raise just under two years ago. Blacklane has secured at least $103 million since 2011, according to deals database Crunchbase.
Blacklane will use the investment for an electrification programme across its chauffeur fleet, aimed at bolstering progress towards its net zero commitments. The money will be spent on procuring EVs and a "super-charging infrastructure.", seen as "perfecting" its service ahead of it entering into further geographical markets.
Blacklane's brand message is that it's a cut above competing chauffeur services. It takes pride in the service credentials of its crew and the comfort of its passengers.
Active in more than 50 countries, in Dubai the company has opened a training school for chauffeurs, aimed at ensuring "highest service quality right from the start" of each driver's journey.
Mercedes-Benz has been an investor since 2013. That relationship means Mercedes-Benz luxury vehicles are well represented in Blacklane's fleet, accounting for more than half of its vehicles. The other car brands include Mercedes-Benz' German competitor BMW, Jaguar Land Rover and Audi.
Franz Reiner, CEO of Mercedes-Benz Mobility, said: "We at Mercedes-Benz Mobility strive to exceed our customers’ expectations delivering an extraordinary customer experience moving ahead into a new era of individual mobility.
"Blacklane has been a perfect partner for almost 10 years while providing excellent experiences and peace of mind for its customers. We are looking forward to continuing our successful partnership and collaboration.”
Sheb Gargash, managing director and group CEO of Gargash, added: "Gargash Group has been witnessing the progress of Blacklane and believes that their strategic direction is much in line with the vision the Group has for its future.
"Our decision to make this investment at this juncture is very much aligned with how we see our industry evolving.”