Trace.Space is an AI-driven, cloud-native platform from Riga, Latvia, built to help engineers develop industrial products and manage requirements. Its tools target workflows for electric and autonomous vehicles, satellites, robots, semiconductors, and medical devices. The platform emphasizes collaboration between manufacturers and suppliers to reduce response times and replaces legacy on-premise tools with modern cloud architectures. Trace.Space combines large language models such as Llama and aspects of OpenAI's LLM with deterministic AI libraries, and the CEO says it is not a mere 'AI wrapper.' The company has raised funding to accelerate its product and go-to-market efforts. Trace.Space raised a $4 million seed round led by Cherry Ventures, with Outlast Fund, Nebular, Fiedler, and Change Ventures participating, and Cherry called it their first investment in the Baltics. Trace.Space is a Latvian startup developing AI-powered tools for industrial and automotive product engineering and manufacturing, aiming to manage roughly 80% of the product development lifecycle. The team—co‑founders Mikus Krams and Janis Vavere (formerly of Lokalise) and CTO Karlis Broders—formed the company within the prior year and raised funding before shipping an MVP. Its first product iteration is scheduled for Q2 2023, initially focusing on requirements management for engineering teams. The software integrates modern AI (including GPT algorithms) to speed requirements documentation and enables non-linear product development with generation of product variations to mitigate supply chain disruption. Trace.Space plans to modernize additional steps of product development after requirements management, improving time‑to‑market and product quality. Financially, the company announced a $1.5 million pre-seed fundraise to support product development and launch.

Total raised

$6M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2025