Trace.Space Raises Seed Round

Trace.Space is a startup platform originating from Riga, Latvia and now located in Miami that is powered by generative AI. This AI-driven platform has been designed for engineers to develop industrial products.

Trace.Space is designed for the process surrounding development of electric and autonomous vehicles, satellites, robots, semiconductors, and medical devices. Trace.Space, with its cloud computing approach, also allows manufacturers and suppliers to collaborate on shared product requirements.

“Every company in the world that builds complex regulated products in automotive, medical, aerospace, and so on, faces the issue that these products are becoming more and more complex, especially to design,” said Janis Vavere, co-founder and CEO of Trace.Space, in a statement. “The legacy tools and processes are struggling. IBM’s tools for this were designed in the late ’80s. It’s a desktop client and needs to be installed on every computer.”

After working on Jama Software, Vavere said he realized the need for a cloud-based, AI-driven approach: “It’s now the right moment to combine modern software architectures and UIs with AI, and apply them to these industries. Companies are looking for something better right now. We use AI models like Llama and then some deterministic AI libraries, as well as aspects of OpenAI’s LLM.” 

Co-founder Mikus Krams previously worked in operations at Lokalise and the software development startup Chili Piper. A third co-founder, Karlis Broders, had previously implemented Jama and Polarion in large-scale projects.

Trace.Space has raised $4 million in seed funding. Cherry Ventures led the round, joined by Riga-based Outlast Fund, along with earlier investors Nebular, Fiedler, and Change Ventures. 

Sources: Press materials received from the company and additional information gleaned from the company’s website.