Elise, a Bremen, Germany-based provider of a connected engineering platform, raised $14.8M in Series A funding.
The round was led by Spark Capital, with participation from BMW i Ventures, Cherry Ventures, UVC Partners, and Venture Stars.
The company intends to use the funds to expand operations and its business reach.
Co-founded in 2018 by Daniel Siegel, Moritz Maier and Sebastian Möller, Elise provides an open low-code development platform, which, based on algorithms, enables engineers to model product development steps digitally in one universal work environment, run them, and systematically reuse their work for new variants or projects. This leads to more efficient use of product knowledge and accelerates development significantly. Application areas include the automotive industry and aerospace.
Today, customers include BMW Group, Hyundai Motor Group, MAN Truck & Bus and Toyota Gazoo Racing.
FinSMEs
09/09/2022