Latvia-based Trace.Space, a SaaS startup building AI-powered tools for engineering product development, announced on Tuesday that it has secured $1.5M (approximately €1.3M) in a Pre-Seed round of funding led by Fiedler Capital.
Nebular, Tiny VC, Foreword VC, Microsoft’s former GM Charlie Songhurst, and Change Ventures also participated in the round.
The latest capital round marks the largest ideation stage investment raised by Baltic founders.
The lead investor
Fiedler Capital is a venture capital firm based in Budapest, Hungary. The VC invests in pre-venture, leading or co-leading pre-seed and early seed deals. Fiedler Capital, which is sector agnostic, writes cheque between €50-750k.