Trace.space Raises Seed Round to Accelerate Product Design with AI

The Rise of AI in Product Engineering

The creation of precise digital simulations is now essential for contemporary product engineering. This allows engineers to build and test prototypes, gaining insight into how materials will perform in real-world scenarios.

Traditionally, established software solutions from companies such as IBM and Dassault have dominated this field. However, a new wave of startups, leveraging the power of generative AI, are now entering the market.

Trace.Space: An AI-Driven Platform

Trace.Space, originating from Riga, Latvia, represents one such innovation. This platform is specifically engineered to aid engineers in the development of industrial products.

Western manufacturing faces increasing competitive pressure from its Asian counterparts. Consequently, there's a growing urgency to accelerate product development through advanced platforms.

Recent entrants like Luminary and Dessia Technologies, which also focus on AI-powered automation of engineering processes, demonstrate this trend.

Focus on Complex Industries

Trace.Space is particularly well-suited for developing electric and autonomous vehicles, satellites, robots, semiconductors, and medical devices.

Unlike conventional, “on premise” solutions, Trace.Space utilizes a modern cloud computing approach. This facilitates collaboration between manufacturers and suppliers, streamlining communication around shared product requirements and reducing lead times.

Addressing the Limitations of Legacy Systems

Janis Vavere, co-founder and CEO of Trace.Space, explained to TechCrunch that companies building complex, regulated products are grappling with increasing design complexity.

He noted that existing tools and processes are struggling to keep pace, citing IBM’s tools, originally designed in the late 1980s, as desktop clients requiring individual installation on each computer.

Having previously worked at Jama Software, a more contemporary design platform, Vavere recognized the need for a cloud-based, AI-driven solution.

“The time is right to integrate modern software architectures and user interfaces with AI, applying them to these industries,” he stated. “Companies are actively seeking improved alternatives.”

Beyond a Simple AI Integration

Vavere emphasized that Trace.Space is more than just an “AI wrapper.” The platform incorporates AI models such as Llama, alongside deterministic AI libraries and elements of OpenAI’s LLM.

The Team Behind Trace.Space

The Trace.Space team brings a wealth of experience. Vavere previously held a sales leadership role at Jama Software and spent two years leading sales at Lokalise, a translation management software company.

Co-founder Mikus Krams previously worked in operations at Lokalise and the software development startup Chili Piper.

Karlis Broders, the third co-founder, has a proven track record of implementing Jama and Polarion in large-scale projects.

Seed Funding and Future Growth

Trace.Space has successfully secured $4 million in seed funding. The round was led by Cherry Ventures, with participation from Riga-based Outlast Fund, and existing investors Nebular, Fiedler, and Change Ventures.

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