Trace.Space, an AI-driven platform from Riga, Latvia, has raised $4 million to enhance engineering processes for developing complex industrial products. The platform focuses on electric vehicles, medical devices, and other regulated products. Trace.Space utilizes cloud computing, contrasting with traditional legacy software that lags in adaptability. As manufacturing faces pressure from Asian competitors, new platforms like Trace.Space aim to streamline development by enabling collaboration and automation. Co-Founder Janis Vavere emphasizes the increasing complexity of product design and the inadequacy of existing tools, paving the way for modern solutions in product engineering.
"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. The legacy tools and processes are struggling."
"Trace.Space is designed for the process around the development of electric and autonomous vehicles, satellites, robots, semiconductors, and medical devices, allowing collaboration on shared product requirements."
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