STOCKHOLM, Sept. 12, 2023 /PRNewswire/ -- ARC Group proudly announces our $1.5 million investment in UNITI, the Electric Vehicle (EV) company set to redefine the urban car market. Since its founding in 2016, UNITI has garnered extensive attention for its innovative vision of a small urban car manufactured and distributed differently than conventional vehicles.
UNITI was founded in 2016 at Lund University in Sweden and gained media attention almost immediately as the company set out to transform the automobile industry. With other electric vehicles still built on older automotive combustion engine standards, UNITI envisioned a new car with all components redesigned to an electrical reality. In addition, the company wanted to disrupt traditional distribution arrangements with its hefty mark-ups in favor of a direct-to-consumer model.
With its inventive approach and product, the 2019 launch was supported by investors and became Sweden's largest crowdfunding project, with over 1,2M€ raised from over 550 investors, within 36 hours. However, regulatory headwinds and financial challenges slowed the firm's progress. Further, heavily affected by the Covid-19 pandemic, the company filed for bankruptcy in 2022.
Nevertheless, investor interest in its core proposition and patents stayed strong. In 2022, Daniel Daboczy – a seasoned entrepreneur and founder of FundedByMe, a prominent European crowdfunding platform – acquired the assets of UNITI, restructuring the company and its management.
"As an entrepreneur, mentor and investor, I have looked into thousands of companies, and to this day, UNITI stands out. From the initial market excitement and engagement to the team's dedication, I never hesitated when presented with the opportunity to commercialize this project".
"The journey of commercializing a vision is never easy, but we have a good plan with new leadership, a dedicated team, great partners, and an ambition to put UNITI cars on the street as soon as possible," adds Daniel Daboczy, Executive Chairman at UNITI.
ARC Group has invested US$ 1.5 million in the newly restructured company. Moreover, with its extensive automotive experience, ARC Group's consulting division will be instrumental in supporting UNITI's commercialization. ARC will provide strategic input and lead the establishment of manufacturing and necessary supply chains, primarily in Asia.
Alexander Ocieczek, Managing Partner at ARC Group, comments: "We strongly believe in Uniti´s technological fundamentals, market vision, and the strength of the new management team. With our experience and strong network in East Asia and the Middle East, we are confident that we can help accelerate the time from prototype to serial production and to a leading niche market position."
Alexander Ocieczek, Managing Partner
+46 707 699 207
Birger Jarlsgatan 38, Stockholm
Daniel Daboczy, Executive Chairman