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- Dr. Alexander Zarzitzky appointed as preliminary insolvency administrator
- Business operations continue
- Search for investors has already begun
Munich, October 17, 2024. An investor is being sought for the space-tech startup UNIO. The Munich-based company has filed for insolvency at the Munich District Court. The court granted the application and appointed Dr. Alexander Zarzitzky as the preliminary insolvency administrator. He and his team have already gained an overview of the situation and held initial talks with employees and some business partners. UNIO’s business operations are to be fully maintained during the preliminary insolvency proceedings.
High-speed internet – everywhere and without interruption
The space tech start-up UNIO was founded in 2022 as a joint venture between the established companies Isar Aerospace (rocket development and construction), Reflex Aerospace (satellite construction), Mynaric (communication via laser beams) and SES (satellite operator). UNIO has since developed a proprietary technology that enables seamless high-speed internet coverage by combining 5G telecommunications and satellite networks. This makes it possible to implement applications such as autonomous driving over a wide area for the first time, as it ensures uninterrupted high-speed internet coverage.
Pre-seed financing round with a volume of €2.5 million
The company launched its “UNIO Move” product in March 2024. The target customers for UNIO’s technology are automobile manufacturers and also manufacturers of agricultural vehicles. The Munich-based startup’s goal is to establish Europe’s first sovereign commercial satellite constellation for fast, powerful and secure connectivity. At the end of 2023, the start-up successfully closed a pre-seed financing round with a volume of EUR 2.5 million. Investors included the space and technology group OHB and the European technology company IABG. This summer, the World Economic Forum named UNIO as one of the 100 most promising start-ups in the tech industry.
“We are working tirelessly to bring advanced connectivity solutions to the mobility sector, in the belief that this technology will transform almost all industries and become an indispensable backbone for strong economic and political sovereignty. I am proud of the pioneering work that our team has done together with our partners. Given the difficult economic environment, we are currently reviewing new strategic options and partnerships to continue this mission,” said Katrin Bacic, CEO of UNIO.
Search for investors has begun
The company’s crisis was triggered by the lack of follow-up financing from the shareholders. This step was taken against the backdrop of a difficult market in the automotive and mobility sector. In addition, the financing environment for growth financing of start-ups remains very tight across Europe. For this reason, filing for insolvency was unavoidable. “UNIO’s technology is innovative and groundbreaking. We will now work together intensively to ensure that it can be maintained and further developed. We are therefore seeking a quick investor solution and have already started the search,” explains the provisional insolvency administrator Dr. Alexander Zarzitzky. UNIO was represented in the insolvency proceedings by Dr. Franziska Kramer, a lawyer at the law firm GÖRG Partnerschaft von Rechtsanwälten mbB.
Team Anchor Rechtsanwälte
Dr. Alexander Zarzitzky
Astrid Maria Mayer