€14.5 million Series A to scale connected engineering!

Time to celebrate and scale connected engineering!

 

We are incredibly proud to announce that we have closed our Series A financing round of €14.5 million! The investment is led by the renowned US Investor Spark Capital, with participation from BMW i Ventures, Cherry Ventures, UVC Partners, and Venture Stars.

Founded in 2018 by Dr. Moritz Maier, Sebastian Möller, and Daniel Siegel, our goal is to make engineering more accessible for teams with a low-code platform that allows for connected, digital and automated product development. With a background in bionic research and offering engineering services, the founding team developed a solution for their projects to overcome the challenges of manual and repetitive development tasks. Quickly, inquiries about engineering services converted to paying customers leveraging the software to solve business challenges. Today, our customers include BMW Group, Hyundai Motor Group, MAN Truck & Bus and Toyota Gazoo Racing. 

“This new investment will allow us to make significant progress towards our goal of becoming the low-code standard in engineering. The ease of use of our visual programming language enables engineers to model and automate development processes in the shortest possible time,” explained Moritz Maier, co-founder and CEO of ELISE. “With our open platform, we enable engineers to transfer 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 pressure.” 

“Elise has made the idea of connected engineering part of everyday life at renowned companies including BMW, Daimler or Airbus. When Elise customers achieve up to 90 percent time savings in development processes, it’s much more than a proof of concept. It is the future of engineering that Elise customers can already participate in today,” said Alex Finkelstein, general partner at Spark Capital.  

Benjamin Erhart, Partner at UVC Partners added, “Elise has already fundamentally changed the way products are developed. We didn’t think at the beginning that rapid iteration, reusing work and easy integration of existing tools would have such a huge impact on product development: The improvements that Elise has been able to achieve with the first well-known customers, both in terms of development time and component performance, are incredible. We are convinced that sooner or later the ELISE platform will be the go-to tool for engineers in their day-to-day business.”

We look forward an exciting future and continuing to deliver on our path to making connected engineering a reality! Thank you to all our customers, partners and amazing team, exciting times ahead!

Daniel Siegel, Dr. Moritz Maier and Sebastian Möller, Co Founders of ELISE

Learn more about connected engineering

Check out our guided demo tour of the platform or get in touch with us to discuss your project!

ELISE GmbH
Konsul-Smidt-Str. 8u
28217 Bremen (Germany)
Phone: +49 (0)421 22159700
E-Mail: info@elise.de

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