Trace.Space, an AI-powered requirements management platform, has secured $4 million in seed funding to modernize manufacturing workflows. The round was led by Cherry Ventures, with participation from Outlast Fund, Nebular, Fiedler Capital, and Change Ventures. This investment marks Cherry Ventures' first in the Baltics, reinforcing its confidence in Trace.Space’s ability to reshape industrial production.
Modern product development is no longer just about assembling hardware; it's about integrating millions of lines of code, ensuring compliance, and streamlining supplier collaboration. The traditional tools used in manufacturing simply can’t keep up. Engineers managing critical projects—like electric vehicles, medical devices, and aerospace technology—often face bottlenecks, miscommunication, and compliance risks due to outdated systems.
This is where Trace.Space steps in. Its AI-driven platform provides automated traceability, real-time collaboration, and regulatory compliance assistance, eliminating the inefficiencies that slow down engineering teams. As the industrial sector undergoes rapid transformation, companies must modernize their workflows or risk falling behind.
With this fresh injection of capital, Trace.Space will focus on expanding its engineering and product development teams to refine and enhance its platform. The company aims to build out AI-driven automation capabilities that reduce manual workloads and speed up complex manufacturing processes.
Beyond product innovation, the funds will also support global market expansion, particularly in the U.S., where demand for modernized manufacturing software is rapidly growing. Trace.Space envisions becoming the industry standard for digital requirements management, bridging the gap between engineering teams and suppliers worldwide.
Founded by Janis Vavere, Karlis Broders, and Mikus Krams, Trace.Space is a Latvia-based company with a global mission. Each founder brings deep industry expertise:
Unlike legacy solutions, Trace.Space is built from the ground up with AI and modern cloud architecture, making it scalable, adaptable, and easy to integrate into existing engineering workflows. The company’s goal is not just to improve manufacturing software, but to redefine how complex products are developed globally.
Cherry Ventures, the lead investor in this round, is known for supporting transformative startups that disrupt traditional industries. Outlast Fund, Nebular, Fiedler Capital, and Change Ventures also participated, adding strong backing to Trace.Space’s mission.
By securing funding from these experienced investors, Trace.Space is well-positioned to scale its platform, expand globally, and redefine digital collaboration for manufacturers. With industrial production facing increasing pressure to modernize, this investment signals a shift toward AI-powered efficiency and smarter engineering workflows.
