Modelwise has developed an AI-powered software platform that helps engineers keep safety analyses in view during the concept phase. It automates technical tasks and helps improve results while saving time and money. Many different industries, from aerospace to automotive to industrial automation, should benefit from this “spell-checker for engineering models”.
“Modelwise is the key to smart factories and Industry 4.0 while ensuring safety – no human can check 70,000 parameters”,
explains Detlev Richter, VP Industrial and Energy Products at TÜV Süd. The startup has been working with TÜV for some time, and among other things, the certification body has verified the integrity of the tool and the correctness of its results.
Modelwise has now closed its seed funding round of €2 million ($2.2 million). Berlin-based VC Join Capital is leading the round, with Emerging Ventures and Fast by Gettylab also participating. Several business angels are on board as well.
Modelwise impresses with “impressive collaboration with industry”
“Companies are under growing pressure to minimize time to market and ensure faster cycle times to optimize supply chains. At the same time, they face increasing product complexity. Through our close ties to industry, we know their problems, and the very manual process of safety engineering is a significant bottleneck for the entire manufacturing industry. Automating this process is a major step forward that has not yet been tackled”,
says Tobias Schirmer, partner at Join Capital. He continues:
“We decided to support Modelwise because of the team’s comprehensive expertise in this field, the performance of their proprietary technology, and the clear value proposition backed by impressive collaboration with industry. We look forward to supporting Florian, Arnold, Iliya, and the team in their mission to revolutionize the safety engineering process across industries.”
Florian Grigoleit, CEO of Modelwise and one of the three founders alongside Arnold Bitner and Iliya Valchef, says:
“Safety should never play a minor role in product development, but given costs, time, and other constraints, it can drop down the priority list. Our software makes safety engineering as quick and easy as spell-checking while improving quality, so engineers can really focus on innovation. We’re excited to work with Join Capital to take Modelwise to the next level and enable a safer future where everyone can trust technologies like autonomous aircraft.”
