Participated · Seed · Feb 2025

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.

Participated · Seed · Apr 2024

Salesforge offers AI-embedded sales tools—Salesforge for crafting unique, multilingual sales emails and Mailforge for domain and mailbox management—focused on multi-source personalization and deliverability. The team dogfoods its product and scaled quickly: an MVP in March after founders met in January 2023, over 800 clients across the US and EMEA, and more than €1 million in ARR in under ten months with a four-person team. The company emphasizes usage-based pricing to help companies replace bloated sales headcount and boost efficiency, targeting bottom-performing roles first. Salesforge currently uses publicly available large language models but plans to host and train its own models on proprietary datasets to avoid relying solely on public models. The product roadmap includes unlocking new channels, adding autonomous capabilities, and integrating with CRMs to cover end-to-end pipeline generation.

Participated · Equity · Apr 2024

inGain is a Riga, Latvia-based B2B fintech that provides a lending solution for traditional and fintech lenders, SME lenders, crowdfunding platforms, and non-finance businesses. Its core product is a no-code SaaS loan management system that serves secured and unsecured instalment and credit line loans, as well as subscription, rent-to-own, and other fintech products. The platform supports consumers and businesses across industries, usable online or offline, with payments handled in cash or via transfer. Led by CEO Armands Liseks, inGain positions its product to let customers focus on core operations without the hassle of IT management. The company intends to use the recent funds to finish work on a no-code self-service platform that allows companies to create tools tailored to their products and needs. The article does not disclose operating metrics such as revenue or user counts.

Participated · Equity · Oct 2023

Collabwriting is a browser extension that makes it seamless to capture and organize information on the go, allowing users to highlight text, leave comments and add items to research topics. The startup was founded in 2021 by Sandra Idjoski (CEO) and Ivan Ralic (CTO), who previously collaborated on Teodesk. The team plans to add audio and video support in the near future. Collabwriting won a EUR 880K investment prize at How to Web 2023 and intends to use the funds for hiring and user acquisition via sales and marketing. Its long-term goal is to evolve from a collaboration tool into a full-fledged knowledge management platform connecting past and current organizational knowledge.

Participated · Seed · Nov 2022

Volteum offers a comprehensive daily operations platform that aggregates fleet data in one place, including charging schedules, battery health for EVs, proactive maintenance data and location tracking for all vehicle types. The platform leverages data manufacturers already collect, enabling newly integrated fleets to go live within 48 hours without vehicle downtime or hardware installation. It also provides long-term and individualized fleet electrification planning. Founded in 2022 and led by CEO Zsófia Tóth, Volteum serves customers across Europe such as Royal Mail, Bolt, Lex Autolease, Schneider Electric, OTP Bank, NG Bailey and Dundee City Council. The company has offices in London and Budapest and plans to use recent funding to expand throughout the UK, BeNeLux and DACH.