The Finnish hardware startup Solu Machines was declared bankrupt on Tuesday by the Helsinki district court. Last week, the company filed for bankruptcy, declaring itself to be insolvent.

Solu Machines, founded in 2014, was developing a Solu computer it claimed to be revolutionary. This “Spotify of computers” was launched in San Francisco in 2015, and it garnered widespread interest. Solu was expected to break out big in the following years.

According to CEO Kristoffer Lawson, Solu Machines needed only “some tens of thousands” of euros financing to continue operating.

“That’s what’s so dismaying with all this, that it all boiled down to surprisingly low amounts of money”, Lawson told the Finnish IT magazine Tivi.

In 2015, Lawson said that the company intends to challenge Apple, Microsoft, and Google straight on. “Our approach is completely different”, Lawson commented.

http://www.tivi.fi/Kaikki_uutiset/solun-pomo-paljastaa-miksi-firma-kaatui-uskon-yha-taydellisesti-visioon-6677506

Finnish IT firm went bankrupt – promised to revolutionize computers

The District Court on Monday sentenced the Finnish bank Solu Machines Oy into bankruptcy. In its application last week, the company announced its insolvency.

Established in 2014, Solu Machines developed a revolutionary Solu computer that was expected to be large. The company announced “Spotify for PCs” in San Francisco in 2015 and attracted international attention at that time.

In an interview with Tivi Magazine , CEO Kristoffer Lawson said in a statement that the company plans to go directly to Apple, Microsoft and Google. “Our approach is completely different,” he said.

In practice, the user had to get a storage space of about 19 euros per month for the cloud and all applications. The device itself was small, just palm sized. The company applied for money successfully with bulk funding for Kickstarter and Indiegogo.

Source: http://www.tivi.fi/Kaikki_uutiset/suomalainen-it-firma-meni-konkurssiin-lupasi-mullistaa-tietokoneet-6677418