Uniti Swedish Urban Electric Car

The crowdfunding approach for capital sourcing seems to be the new black where alternative fuel automotive start-ups are concerned. Last month, German company Sono Motors announced that its crowdfunding exercise had gone very well, the start-up having exceeded its goal of raising 150,000 euros (RM684,000) for the initial phase of developing its Sion electric car. Now, it’s the turn of Uniti to go the same route. Sweden’s first urban electric car outfit – which began as an open innovation research project at Lund University – has launched its global equity crowdfunding round on FundedByMe, with a goal to raise euros (RM2.3 million) for a 5.1% ownership in the company. It said it reached 63% of its investment goal from 68 crowd investors in the first four hours after launching it to the public. The Uniti crowdfunding campaign is set to run until November 15, and the initial funding raised will allow the company to build a production-ready prototype, which is scheduled for 2017. The Uniti is a two-seater