Ooono, a community-based co-driver that connects drivers across more than 50 countries, is set to close its equity crowdfunding campaign on Crowdcube with nearly 1.4 million secured. The funding round, which originally sought to raise €250,000, has attracted 1460 Crowdcube investors.
ooono describes itself as a complex technology made simple. The platform accesses an independent database of millions of drivers, allowing you to benefit from their observations on your daily commute. Through the platform, users may report accidents, speed cameras, and road hazards. ooono then automatically alerts users of the same, with an alarm beep and blink. ooono also acts as your co-driver, so you can keep your eyes on the road without using a phone or opening a traffic app.
“In June 2019, [ooono] launched into Germany and has sold +150K more units, trading profitably from April 2020 (+134K€ EBITDA last 12 months). ooono® welcomed +20K new users last month, is rated Excellent on Trustpilot and is already available at key retailers MediaMarkt & Saturn. Estimates show there are +300M vehicles in use across Europe, each of which could be the next ooono user.”
Funds from the Crowdcube campaign will be used to continue the growth and development of the ooono platform. The company is now offering 4.07% in equity with a €33 million pre-money valuation through the initiative, which is set to close next week.
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