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Atlas Technologies – maker of the Lightyear solar car – goes bankrupt

The car business is a stern taskmaster. Netherlands-based Atlas Technologies (Atlas) producing Lightyear - set to be the world’s first mass produced solar car...

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Magic raises €22m Series A, for code-generation platform

Austria (& US-based), Magic is developing a “code-generation platform” for software engineers. Like a human engineer, it aims to communicate in natural language & collaborate with users to write, review, debug & plan (even complex) code changes. Powered by large language models, the product operates like an “AI pair programmer” able to understand & continually learn more about the context of the coding project & developer. In doing so, Magic is similar to Microsoft’s Github Copilot, which uses an AI model (based on GPT-3) to automatically write software (it’s a formidable ~competitor, with substantial corporate backing, used by <1.2m people & now also being positioned as an enterprise tool with Copilot for Business). So, how’s...

Onto raises €113m credit facility, for vehicle subscription service

UK-based Onto is a vehicle subscription service, working to accelerate EV adoption by making access to electric vehicles easy, flexible & affordable. Through its all-inclusive packages, Onto eliminates the hassle of long-term contracts & large upfront deposit payments, as well as the seemingly endless paperwork usually associated with traditional leasing programs. Onto’s subscriptions run monthly. One can then choose to continue the subscription, cancel, or swap to a different model. Onto’s subscriptions include insurance, road tax, public charging, breakdown cover, servicing & free public charging. The monthly subscription comes with 750 miles. One can then pay extra to enjoy driving many more miles by purchasing a mileage package. These packages can give you 250, 500,...

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