Electric taxi company Sherbet has secured up to £40 million from private equity firm Hoplon Investment Partners, marking the largest-ever investment in the history of London’s licensed taxi industry.
The growth capital will help Sherbet scale its electric fleet from 550 to 3,000 cabs, build out new driver-focused tech and prepare for international expansion, repositioning the black cab as a clean, connected transport solution for the 21st century.
Founded by ex-cabbie Asher Moses, Sherbet operates the UK’s fastest-growing electric black cab fleet.
Mr Moses said: “This investment marks a turning point not just for Sherbet but for the future of the black cab. Our mission is to preserve its heritage while giving drivers the tools to thrive in today’s mobility market.”
Sherbet’s all-electric model has already drawn global interest, offering a compliant, accessible and sustainable alternative to ride-hailing platforms.
The company will use the investment to support driver recruitment, enhance in-cab data systems and roll out a tech platform offering booking, analytics and advertising features.
The investment supports London’s decarbonisation efforts and aims to make the black cab a globally recognised symbol of sustainable transport.
