Unio was founded in 2022 as a joint venture between Isar Aerospace (development and construction of rockets), Reflex Aerospace (construction of satellites) and Mynaric (communication using laser beams) and SES (satellite operator). Since then, the Munich startup has developed a proprietary technology designed to enable seamless high-speed internet coverage through a combination of 5G telecommunications and satellite networks. Such solutions are necessary to enable applications such as autonomous driving across large areas, as they ensure uninterrupted high-speed internet coverage.
Following a successful pre-seed round of €2.5 million at the end of 2023 – investors included the aerospace and technology group OHB and the European technology company IABG – Unio launched its product "Unio Move" in March 2024. The name stands for an integrated, turnkey data service solution that bridges the connectivity gap between 5G and satellite networks. Target customers for the technology are automotive manufacturers and also manufacturers of agricultural vehicles. Furthermore, Unio was recognized this year by the World Economic Forum under the 100 most promising tech startups in the tech industry.
A difficult market and tight financing environment are causing problems for Unio
Katrin Bacic, CEO of Unio, says:
"We are working tirelessly to bring advanced connectivity solutions to the mobility sector, believing that this technology will transform nearly all industries and become an essential backbone for strong economic and political sovereignty. I am proud of the pioneering work our team has accomplished together with our partners. Given the challenging economic environment, we are currently exploring new strategic options and partnerships to continue this mission."
The startup's crisis was triggered by the lack of follow-up financing from its shareholders. In a press release, Unio cited a difficult market in the automotive and mobility sector as well as a generally tight financing environment for growth financing throughout Europe as the reasons for this. For this reason, the insolvency filing was inevitable.
The Munich District Court appointed Dr. Alexander Zarzitzky from the law firm Anchor Rechtsanwälte. He explains:
"Unio's technology is innovative and groundbreaking. We will now work together intensively to ensure that it can be preserved and further developed. Therefore, we are striving for a quick investor solution and have already begun the search."
