Investment Crowdfunding Success.
Uniti is an electric car manufacturer startup that started in Sweden. Uniti first launched in 2015, is the creation of entrepreneur Lewis Horne. Uniti is an electric city car that is designed to match the needs of the modern urban commuter. The vehicle plans to include a full-screen augmented reality heads-up display, and utilize sustainable materials. In 2016, Uniti raised growth capital via crowdfunding – on FundedByMe, a full-service investment crowdfunding platform.
At that time, the crowdfunding campaign was a huge success. The equity offering hit the crowdfunding goal within 36 hours. The campaign raised over € 1,200,000 from 570 investors from 29 different countries.
Horne stated at that time:
“It’s a great start to our funding but now we have a lot of work to do. We wanted to start our seed round with the crowd as it suits our brand and our values to be open and authentic.”
Today, Uniti is gearing up to raise £30,000,000, where £1,000,000 of that amount will be raised on UK based crowdfunding platform Crowdcube to allow retail investors to join in the offer. This time Uniti is raising funds at the valuation to £97,000,000 (€109 million) or SEK 1,100,000,000. FundedByMe says this makes Uniti the first Swedish equity crowdfunding Unicorn. FundedByMe says this increase in valuation is “a great milestone for both the equity crowdfunding industry, for FundedByMe, Uniti, Crowdcube and the Swedish startup scene.”
“We were impressed when we followed the perfectly executed crowdfunding campaign that Lewis Horne and his team did on FundedByMe, but we’re even more impressed to see the execution power, the ambition, and the relentless energy in this company. This could become one of the great examples on how to build and grow a company and we’re excited towards the future when we can test drive the UNITI One and see them on the streets,” says Daniel Daboczy CEO and co-founder of FundedByMe.
Uniti has now expanded their production facilities to Silverstone UK. With this expansion, Uniti hopes to transform their prototype into a “production-ready, globally homologated vehicle with an increased emphasis on safety and environmental protection.” Production vehicles are expected to roll off the line beginning in 2020.
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