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Uniti Sweden - Ingenious EV

English | German

Elevator pitch

We are leading the most deliberate reinvention of the automobile in modern times; abandoning the mechanical limitations of the combustion engine era and re-defining the city car and its core technologies. Our lightweight, electric city car (L7e EU-category) is designed for sustainable and efficient city mobility, but is distinctly high-tech. This is a market niche with imminent mainstream potential. In the documentation you will find an in-depth explanation of the technologies we have developed in-house that fill the gaps in the interaction and interface technology of modern cars, while providing a roadmap to mass-scale production. More information on our website.

Investor proposal

UPDATE: For investment opportunities: invest@teamuniti.com

The valuation was developed with industry specialists, VIP investors and financial advisors. It is based on traction, stage of product, scalability & strong business plan, strategic alliances, market potential (DCF), intellectual property, brand traction and team.

Revision: Due to the large amount of investors, Swedish law requires us to become a public company and means investors will own shares directly in Uniti Sweden AB.

**Company investments welcome

OBS: Du kan hitta kampanjen på svenska här.
US residents cannot invest via this campaign but you can express interest by clicking here.

Idea

The problem this product solves
Burning fossil fuels, high traffic congestion, and vehicle emissions causing adverse health effects are just some of the many problems caused by our current personal city mobility norms. We have identified an opportunity to accelerate the shift to cleaner mobility norms, by developing a vehicle in which the user interaction and user experience are updated to interaction norms such as those that in modern smartphones. In addition, the current large heavy vehicle format doesn't really fit in our cities and we are proposing something new.

How the product solves it
Uniti is a vehicle with the correct format for urban transportation. All unnecessary features and attributes are removed, including excess plastic moulding, furnishings, and static interfaces such as plastic buttons. All critical features of common cars are kept and updated, such as comfort, safety, sufficient luggage compartments and sporty but reasonable performance. Innovative and desirable features are implemented to increase the consumer adoption such as an intuitive interface and autonomous features.

Gallery

Product

Product features
We are exploring options to ensure the premium sustainable materials used in construction are sourced as locally as possible. The vehicle includes driver assist features, a triple redundant Steer-by-Wire system, and an industry first full screen Head-up Display.

Product use cases
Uniti is designed to be perfect for the daily commutes of young professionals, or young families wanting a second family car with low cost, a low environmental impact, and without any compromise on aesthetic or user experience.

Market

Target Market
Our initial focus will be on Western European, high-income urban millennials between the ages of 25-34. Sweden, Germany, UK & France alone have more than 30 Million people in this segment but this number can be expanded to include tech savvy individuals of any age. They are conscious consumers and media hungry technophiles, are progressive in many aspects of social and secular life, and do not have brand loyalty to existing car brands. Demand has already been proven with over 140 pre-orders (non-binding) with only minimal promotion, providing a statistically relevant representative sample of our target market.

Competitive landscape
We are specifically targeting the emerging niche of fully electric city cars. The most relevant competitors on the market are the Renault Twizy and ZOE, which are the highest selling electric cars in Europe. We can also include larger EVs such as the BMW i3 and Nissan Leaf, which have also seen significant growth in recent years. The unprecedented growth of the EV market, inspired by Tesla, is only limited by the narrow range of vehicles on offer in this emerging market.

Unique differentiator from competitors
Our key differentiators are a futuristic user experience and holistic sustainability, and an industry leading safety rating for the L7e category. The physical comparison to competing vehicles is somewhat limited as Uniti is part of what could potentially be the early days of very different technology and logic in mobility. Our Steer-by-Wire system, user experience features such as immersive in-car gaming and the focus on shifting user patterns and business models are significantly different to any other offer on the market today.

Business Model

Company revenue streams
In the short-term our revenue streams will include licensing of proprietary technology and commercialisation licenses of open-source technologies. This minimises risk and maximises long-term value creation. In the long-term our main revenue stream will be through direct sales of Uniti branded lightweight electric vehicles in Europe and East Asia.

Product/service distribution
Uniti is closer to consumer electronics than present day automotive. With it’s lightweight and compact size, it is suitable for direct online sales, in which the vehicle is delivered to the door, or sold in retail electronics stores.

Execution

Previous milestones/traction
Exterior design aesthetic for first model
>70 articles (i.a. Futurism, NordicBusinessInsider, FocusOnline, Wired)
>100 collaborators globally
>15 university MSc. thesis projects
6 business angels
Government grant 100,000SEK
140 non-binding pre-orders
Cockpit hardware prototype #1 constructed
Steer-by-Wire prototype constructed
VR test-drive platform completed
First product launched - the Uniti ARC is publicly endorsed by Atmel and Arduino
First Robotic vehicle test platform constructed and testing commenced
>70,000 views on Uniti videos
Head-up Display prototype constructed with 3D augmented reality, head and hand tracking
Relationships in place with leading brands as the foundation to a smooth transition to mass production (under NDA)

Next key objectives
Q1 2017 - Mule prototype vehicle with all core technologies implemented
Q4 2017 - Evaluation prototype with all functions and perceived quality of the production vehicle
Q4 2017 - Patents applications submitted and reference design protected
Q1 2018 - First significant deposit down pre-orders
Q3 2019/Q1 2020 - First deliveries of vehicle

Previous Financing
Research phase
Lund University and LU Maxlab

Startup phase
6 Business Angels - 600k SEK (technology development)
Almi Grant - 100k SEK (Kepler Pod Development)
Founders - 500k SEK (Operational costs)
Government funded autonomous driving project in partnership with Volvo et al. - 30k SEK (Ideation Workshop)

Indirect financial support
Office space discount - 546k SEK
Team time spent - 6.1mil SEK
Price Waterhouse Coopers - (approx) 100k SEK
MAQS Law Firm - 30k SEK

Total 8.5mil SEK

Partnerships
We have well developed relationships with major OEMs and aligned brands that are currently under NDA. These relationships cover key challenges such as materials and manufacturing. Our entire strategy is based on partnerships, as we maintain a focus on only those tasks that are our strengths. An example partnership is our joint government funded project for autonomous driving technology in partnership with Volvo and other leading companies from the Swedish automotive industry.

Industry Recognition

Industry Certifications/Awards
Foundersuite Startup of the week
Winner: European Business Network Scale 11
Winner: Pioneers 500 - World’s top 500 early stage startups
Cleantech Scandinavia -  top 20 cleantech company in Scandinavia
Winner: Startup Sweden - top five Swedish startup
Nordic Startup Awards - Nominated as best Social Tech startup in the Nordics

Use of Funds

35% - Recruit and build a strong team, covering all relevant areas of expertise.
25% - Development of key technologies and the protection of these through patents
15% - International Growth of the Brand, its supplier and distribution networks
25% - Purchases of relevant Hardware and Software for the develoment and production of the first prototype