Subjects: FNC, LIC, BFA, VEN
TRAM VF Announces Flagship Investment in London Ride-Hailing Startup, OUNO
LONDON, April 23, 2024 /PRNewswire/ -- Tri Ri Asset Management ("TRAM") is pleased to announce a strategic investment from its flagship venture capital fund, the TRAM Venture Fund ("TRAM VF"), in OUNO, a pioneering executive ride-hailing platform headquartered in London. This collaboration marks a significant milestone for both entities as they embark on a journey to transform the transportation industry.
Founded in 2023, OUNO rapidly gained traction in the market, attracting early investments from notable figures such as England & Manchester United's Mason Mount, BAFTA-winning actor Michael Ward, and Grind Founder David Abramovitch, among others. In its inaugural year, OUNO demonstrated remarkable progress, earning the trust of numerous high-end brands including Prada, Hublot, and the Soho House Group. With thousands of daily B2C users in London alone, OUNO has established itself as a leader in the executive ride-hailing sector.
OUNO's innovative feature of vehicle specificity distinguishes it in the executive ride-hailing space. Unlike other platforms that generalize vehicle options, OUNO enables users to request specific models such as Mercedes E-Class, S-Class, V-Class, or even a Tesla for those seeking a fully electric option. With over 2,500 chauffeurs already enlisted on the platform and an additional 1,500 awaiting onboarding, OUNO has become the preferred choice for drivers in London.
TRAM VF's investment underscores its confidence in OUNO's growth potential and commitment to innovation. With ambitious plans for expansion into the MENA region and the US, OUNO is positioned to redefine urban transportation globally. TRAM's leadership is excited to support OUNO's journey as it continues to lead the London market and extend its reach worldwide.
"We're delighted to welcome TRAM to our business and successfully close our seed round," said Bobby Drewett, Founder of OUNO. "Having TRAM as our first VC investor will strengthen our position for future funding rounds, benefiting from their wealth of knowledge and experience."
"The strategic expansion into the Middle East is a top priority for both TRAM and OUNO," remarked Asad Ali, Managing Partner of TRAM VF. "As I transition from public markets to private markets, I look forward to closely collaborating with Bobby and the OUNO team. As a value-add investor, I'll utilize Tri Ri's global network and resources to support OUNO's growth, particularly in key markets, and help solidify its position as a market innovator in executive transportation."
OUNO's innovative transportation approach, coupled with TRAM VF's strategic investment, lays the groundwork for a dynamic partnership poised to revolutionize the travel experience. Together, OUNO and TRAM VF are set to reshape urban mobility and make a lasting impact worldwide.
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