In the current era of product engineering, the demand for precision and efficiency has never been greater. Engineers are turning to digital simulations, not merely as a temporary measure but as an essential aspect of the product development lifecycle. These simulations enable the creation of sophisticated prototypes that predict how materials will perform in real-world applications. Historically, engineering teams have had to rely on legacy software solutions, such as those developed by established firms like IBM and Dassault. However, a new wave of innovation is emerging from startups leveraging generative AI technology.
Trace.Space, a promising startup based in Riga, Latvia, exemplifies this innovation-driven shift. Focused on aiding engineers in the development of complex industrial products, Trace.Space is a response to the growing pressure on Western manufacturers striving to keep pace with their Asian rivals. As this competitive environment intensifies, the focus on speed and efficiency in product development becomes crucial. The introduction of platforms like Trace.Space not only enhances the pace but also the quality and complexity of product design. Unlike traditional ‘on-premise’ solutions, this AI-based platform harnesses the power of cloud computing, which facilitates real-time collaboration between manufacturers and suppliers, ultimately streamlining the process.
In sectors such as automotive, medical, and aerospace manufacturing, products are increasingly intricate. Janis Vavere, co-founder and CEO of Trace.Space, emphasizes the struggles that legacy tools impose on design teams, stating that existing software from the 1980s is outpaced by the rapid development needs of today. The shift towards cloud-based solutions represents a much-needed evolution in product engineering tools. Vavere’s experience with modern design platforms, including Jama Software, prompted him to recognize this transitional phase: “It’s now the right moment to combine modern software architectures and UIs with AI, and apply them to these industries.”
What sets Trace.Space apart from previous tools is its incorporation of advanced AI models, such as Llama, alongside deterministic AI libraries. This innovative approach contrasts sharply with merely adding an “AI wrapper” to existing technologies; instead, it fundamentally redefines how products can be designed and managed. This forward-thinking perspective is crucial as industries grapple with growing design challenges.
The founders of Trace.Space bring an impressive range of experience to the table. Alongside Vavere, who previously led sales at Jama Software, co-founder Mikus Krams’s background in operations and Karlis Broders’s implementation of advanced project management tools further strengthens the team’s credentials. Together, they have established a platform built on contemporary understanding and expertise.
With initial seed funding of $4 million secured, Trace.Space is poised for growth within the dynamic landscape of product engineering. As companies continue to search for improved tools to navigate the complexities of modern product development, the future looks bright for platforms that seamlessly integrate AI with engineering processes. By addressing the limitations of traditional software solutions, Trace.Space represents not just a tool, but a crucial step forward in utilizing technology to redefine product engineering.