Press Release: Munich-based space-tech startup UNIO Enterprise is seeking an investor
Munich, October 17, 2024 – UNIO, a Munich-based space-tech startup, is actively seeking an investor following its recent filing for insolvency with the Munich District Court. The court has approved the application and appointed Dr Alexander Zarzitzky as the preliminary insolvency administrator. Dr Zarzitzky and his team have assessed the situation and initiated discussions with employees and key business partners. During this phase, UNIO will continue its business operations without interruption.
High-Speed Internet – Everywhere, Without Interruption
In 2022, UNIO was formed as a joint venture by leading European space players: Isar Aerospace (rocket development and construction), Reflex Aerospace (satellite construction), Mynaric (laser-based communication), and SES (satellite operations). Since its founding, UNIO has developed innovative technology that combines 5G telecommunications with satellite networks to deliver seamless high-speed connectivity. This innovation enables applications like autonomous driving to operate over large areas, ensuring uninterrupted, reliable high-speed internet for the first time.
Pre-seed Financing Round of €2.5 Million
UNIO was founded to build Europe’s first sovereign commercial satellite constellation, offering fast, robust, and secure connectivity. At the end of 2023, the startup successfully closed a pre-seed financing round worth €2.5 million, with backing from investors such as the space and technology group OHB and European technology company IABG. In March 2024, UNIO launched its “UNIO Move” product, targeting automobile and agricultural vehicle manufacturers. This summer, the World Economic Forum recognised UNIO Enterprise as one of the 100 most promising tech startups.
“We are working tirelessly to bring advanced connectivity solutions to the mobility sector. We believe this technology will transform almost every industry and become a vital backbone for economic and political sovereignty. I am proud of the pioneering work our team has accomplished alongside our partners. Given the challenging economic environment, we are exploring new strategic options and partnerships to continue this mission,” said Katrin Bacic, CEO of UNIO.
The search for investors is underway
UNIO's insolvency filing was driven by a lack of follow-up financing from its shareholders, compounded by challenging market conditions in the automotive and mobility sectors. Additionally, the financing environment for startup growth across Europe remains very tight. "UNIO's technology is both innovative and groundbreaking. We are working intensively to ensure its preservation and further development. We have already begun the search for a swift investor solution," explained Dr Alexander Zarzitzky, the provisional insolvency administrator. UNIO is represented in the insolvency proceedings by Dr Franziska Kramer, a lawyer from GÖRG Partnerschaft von Rechtsanwälten mbB.
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