MOST completes investment in Unicorn Mobility to drive sustainable transport expansion
What's the deal? Italy's National Centre for Sustainable Mobility (MOSTDealroom has a profile for this one. Try Dealroom →) has completed an investment in Unicorn MobilityDealroom has a profile for this one. Try Dealroom →, a startup that operates a fleet of over 2,000 light electric vehicles across six countries. The deal's financial terms were not disclosed.
Unicorn Mobility focuses on decarbonising corporate transport — helping companies, hotels, municipalities, residential complexes, and university campuses shift to electric mobility. It currently operates in Italy, Greece, Spain, Portugal, the United Arab Emirates, and Saudi Arabia.
"This funding round is a recognition of our business model, aimed at fostering the decarbonisation of companies starting from a concrete assistance to the movements of employees and corporate staff," said Gianluca Iorio, co-founder of Unicorn Mobility.
BIP Law & Tax advised Unicorn Mobility on the transaction, with a team led by equity partner Marco Muscettola and manager Bianka Vecaj.
Why now? The investment aligns with Europe's broader push toward the energy transition and corporate sustainability mandates. As companies face growing pressure to cut emissions across their operations — including employee transport — light electric vehicle fleets offer a practical, scalable solution.
What could go wrong? Light electric mobility remains a fragmented market with thin margins and heavy competition. Scaling across six countries with different regulatory frameworks adds complexity, and the sector's reliance on municipal contracts and corporate clients makes it vulnerable to budget cuts and policy shifts.
The signal: Unicorn Mobility is still at the early growth stage, according to Dealroom, making MOST's backing a bet on a relatively nascent operator scaling a turnkey e-bike service model across six markets simultaneously. The involvement of a national research centre rather than a traditional VC fund underscores how public-sector capital is stepping in to de-risk sustainable mobility plays that commercial investors may still consider too early or too hardware-intensive.
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