Swedish electric car reaches 63% of crowdfunding goal within first hours

Swedish electric car reaches 63% of crowdfunding goal within first hours

Stockholm, October 5,
2016 – Sweden’s first urban electric car, Uniti, today launched its global equity crowdfunding round on
FundedByMe with a goal
to raise €500.000 for 5,1%
ownership in the company. The company, which is developing a lightweight
electric city car that combines holistic sustainability, a futuristic user
experience and is developed in an open-source manner, reached 63% of its investment goal from 68 crowd
investors in the first 4 hours after launching to the public.
The Uniti crowdfunding campaign will run untilNovember 15, 2016 and a total of 50,000 shares are available for crowd
ownership – at a minimum of €500
per investment.

“We
decided on crowdfunding as it’s the funding method that complies closest with
who Uniti is as a company – open and
innovative,” says founder and CEO Lewis Horne. And FundedByMe co-founder and
CEO DanielDaboczy agrees, “Uniti is pushing for change in an industry
where things have been done in a certain way forever, which strongly appeals to
the FundedByMe mindset of changing the status quo and
allowing everyone to become a shareholder.”

This
round will provide the seed funding required for Uniti to build a production-ready prototype,
which is scheduled for 2017. Uniti began as an open innovation research
project at Lund University where the team studied the underlying logic of
modern mobility, the core problems that need to be solved, and the emerging
technologies that should form the basis of the next generation of automotive.
“Our findings show that city streets don’t need to be dominated by heavy
combustion engine vehicles, or even oversized electric vehicles, as they
typically only carry an average of 1.2 people for short distances at low
speeds,” Horne continues.

And
so Uniti was created – an electric city car
that is designed to match the needs of the modern urban commuter, with a light
and lean construction designed to maximize the benefits of electric car
technology, utilizing sustainable materials and the highest quality
‘off-the-shelf’ solutions from leading suppliers. Uniti’s main source of revenue in the short-term
will be through licensing the core technologies to other auto manufacturers,
while in the long-term it will be through the direct sale of Uniti-branded vehicles.

View the Uniti campaign on FundedByMe here: www.fundedbyme.com/uniti