For those that have followed the stories around the electric car startup UNITI, it has been quite a ride, that last year seemed over, with the bankruptcy and the founder Lewis Horne speaking out in part about it. Now it has been announced that entrepreneur Daniel Daboczy, founder of crowdfunding firm FundedByMe, acquired UNITI’s assets and restructured the company.
It was also announced that ARC Group makes a € 1.4 million investment in the new company. UNITI was originally founded in 2015 at Lund University in Sweden, and with the ambition to create an innovative Electric Vehicle (EV) company aiming to revolutionize the urban car market. UNITI quickly gained recognition for its vision of an urban electric car with a distinct manufacturing and distribution model.
“We are confident that we can help accelerate the time from prototype to serial production and to a leading niche market position.”says Alexander Ocieczek, Managing Partner at ARC Group
UNITI set out to redesign all vehicle components to align with electric standards and replace traditional distribution methods with a direct-to-consumer model. In 2019, the company’s launch became Sweden’s largest crowdfunding project, raising over € 1.2 million from 550 investors within 36 hours. This was done on FundedbyMe. However, challenges, including regulatory hurdles and financial difficulties, led to UNITI filing for bankruptcy in 2022.
Despite setbacks, investor interest in UNITI’s core proposition and patents remained strong. In 2022, Daniel Daboczy, founder of FundedByMe, acquired UNITI’s assets and restructured the company. ARC Group’s € 1.4 million investment will support UNITI’s revival, with ARC’s consulting division playing a key role in guiding commercialization efforts, establishing manufacturing, and supply chains, primarily in Asia.