Founded in 2018, the startup offers a connected engineering platform for networked, digital, and automated product development. The company's customers include BMW, Brose, EDAG Engineering, Hyundai, Toyota Gazoo Racing, and MAN Truck & Bus. Benjamin Erhart, Partner at UVC Partners, says:
"Elise has already fundamentally changed the way products are developed. We never imagined that rapid iterations, leveraging experience, and easy integration of existing tools would have such a huge impact on product development: The improvements Elise has achieved with its first major customers, both in terms of development time and component performance, are incredible. We are convinced that the Elise platform will soon become the preferred tool for engineers in their daily work."
UVC Partners and Venture Stars focus on early-stage startups
The UnternehmerTUM-VC UVC Partners invests in European early-stage B2B startups in the enterprise software, industrial technologies, and mobility sectors. The fund typically supports its portfolio companies with an initial investment of between €500,000 and €10 million, and a total of up to €30 million.
The second Munich-based investor, Venture Stars, focuses on early-stage investments in innovative, digital B2B and B2C business models. The investor's two funds typically invest between €500,000 and €2 million in new portfolio companies, with a total of up to €4 million per company. This investment by Venture Stars will also have been within this framework.
"With the help of this Series A financing, we are significantly closer to our goal of becoming the low-code standard in engineering. The ease of use of our visual programming language allows engineers to map and automate development processes in a very short time,"
says Moritz Maier, one of the three founders of the startup.
"With our open platform, we enable engineers to apply the agile and efficient methods of software development to hardware development. This automates manual and repetitive tasks and enables companies to manage the growing complexity of product development in the face of increasing cost and innovation pressures."
