Swedish EV Startup Uniti Raises €1.23 Million Through Fundedbyme Campaign

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The Swedish electric vehicle startup that we wrote about recently, Uniti, has managed to raise more than €1.23 million in new funding through its Fundedbyme crowdfunding campaign, going by a new video update released by those involved.

That means that the startup raised many times its published target for the campaign. I guess that there’s a lot of enthusiasm out there as far as “affordable” electric vehicles? That flies in the face of the actions taken to date by established auto manufacturers.

The Tesla Model 3 revealed earlier this year showed something similar — there’s a lot of demand out there for electric vehicles (EVs) that are affordable and possess decent range.

With regard to Uniti, the new funding will apparently allow for a prototype to hit the road sometime next year — with a production offering following sometime after that (by the end of the decade).

Here’s the video update, for those interested:

A couple of other points (for those who aren’t going to watch the video): the €1.23 million in funding came via 570 different investors, spread across 45 different countries (you may recall that those in the US weren’t able to take part in the campaign); average investment amount was $2,300; and the company is aiming for an EV selling price of around ~$23,000.

The company’s plans, sensibly, involve targeting the millennial generation of Western Europe, which represents a substantial, and underserved market, according to the company.

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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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