The Berlin-based startup unu was founded with the goal to accelerate the shift towards electric mobility with its stylish e-scooters. However, their business seemed to have been running smoothly for only for a rather short time. As we learned from sources close to the company, unu has just filed for bankruptcy.
The Berlin-based e-scooter manufacturer had raised a total of almost €40 million in funding. In their Series B round, which we covered in 2018, they secured $12 million from Ponooc, Capnamic Ventures, IRIS Capital, Michael Baum, NRW.BANK and others.
The bankruptcy was filed yesterday at the district court in Berlin-Charlottenburg, and the company has confirmed this today to German media representatives. They stated: “Reasons for the bankruptcy include increased material and transport costs, higher operational costs, and significantly decreased demand due to inflation.”
Business operations will continue during the insolvency proceedings. The company is now aiming for restructuring it’s business and assets.
unu was founded in Berlin about 10 years ago and recently employed around 50 staff members. According to the company, the battery-electric scooters were sold in Germany, France, Austria, and the Netherlands.
The company has been struggling with problems for years. During the pandemic, unu reportedly had to halt production for several months. Then there were chip supply issues, and recently, the startup has been affected by poor consumer sentiment.
Insolvency administrator Gordon Geiser stated: “In 2023, the company fundamentally renewed its scooter subscription and also expanded its offline presence with trade partners,” unu stated. “For this reason, we see good chances of achieving a restructuring solution and continuing the sale and service of the scooters.”
Read the orginal article: https://www.eu-startups.com/2023/11/berlin-based-e-scooter-startup-unu-declares-bankruptcy/
