Unio was founded in 2022 as a joint venture of Isar Aerospace (development and construction of rockets), Reflex Aerospace (satellite construction), and Mynaric (laser-based communication) as well as SES (satellite operator). Since then, the Munich startup has developed 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 like autonomous driving across regions, providing uninterrupted high-speed internet connectivity.
Following a successful pre-seed round of €2.5 million in late 2023 – with investors including aerospace and technology corporation OHB and European technology company IABG – Unio launched its “Unio Move” product in March 2024. Behind the name lies 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 agricultural vehicle manufacturers. Additionally, Unio was named by the World Economic Forum this year among the 100 most promising tech startups in the technology industry.
A challenging market and tight financing environment weighing on Unio
Katrin Bacic, CEO of Unio, says:
“We work 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 trigger for the startup’s crisis was the failure to secure follow-on financing from the shareholders. In a press release, Unio attributes this to a challenging market in the automotive and mobility sector as well as generally tight financing conditions for growth funding across Europe. For this reason, the insolvency filing was unavoidable.
The Munich district court appointed Dr. Alexander Zarzitzky from the law firm Anchor Rechtsanwälte as provisional insolvency administrator. He explains:
“Unio’s technology is innovative and pioneering. We will now work intensively together to ensure that it can be preserved and further developed. Therefore, we are aiming for a rapid investor solution and have already begun the search.”
