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PressClub USA · Article.
BMW i Ventures Announces Investment in ELISE.
Mon Nov 04 16:00:00 CET 2019 Press Release
Mountain View, Calif. (November 4, 2019)… BMW i Ventures announced today an investment in ELISE, a deep-tech startup developing generative engineering software aimed at automating the product development process. The new funding will be used to speed product development and market entry. “ELISE enables engineers to automate multiple time consuming steps of the product design process,” said Tobias Jahn, principal at BMW i Ventures. “We observed high efficiency gains during the initial usage at the BMW Group and are convinced that such achievements are also possible at scale throughout the rest of the organization.”
Mountain View, Calif. (November 4, 2019)… BMW i Ventures announced today an investment in ELISE, a deep-tech startup developing generative engineering software aimed at automating the product development process. The new funding will be used to speed product development and market entry.
“ELISE enables engineers to automate multiple time consuming steps of the product design process,” said Tobias Jahn, principal at BMW i Ventures. “We observed high efficiency gains during the initial usage at the BMW Group and are convinced that such achievements are also possible at scale throughout the rest of the organization.”
ELISE aims to fundamentally change the process of how parts are designed. Today engineers usually start their product design journey on paper, imagining what a product could look like in the end. However, advances in additive manufacturing not only allow for many more degrees of freedom, but also for the development of entirely new shapes and structures. ELISE starts by collecting the requirements of parts, such as its loadcases, size, costs etc. and subsequently helps a designer shape a product matching the ascribed parameters. ELISE also allows the engineer to include requirements from various other stakeholders, thereby eliminating lengthy feedback loops that stretch product development timelines.
In an exclusive beta phase with leading OEMs and Tier1s from the automotive and aerospace industry such as BMW, MAN, Ariane Group and Brose, ELISE has validated its software over the past 12 months and demonstrated huge value-add, saving engineers up to 90% of time in designing products.
“After several years of research and development, we have shown our proprietary software to selected partners for the first time and are overwhelmed by their feedback,” co-founder Daniel Siegel says.
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About BMW i Ventures:
BMW i Ventures, BMW’s EUR 500 million venture capital fund, invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services. The firm has already partnered with innovative companies such as Bright Machines, Carbon3D, Chargepoint, Claroty, DesktopMetal, fair, Graphcore, Moovit, Tekion, Trifacta, Xometry, Yellowbrick and Zum. BMW i Ventures invests in all stages from seed to growth companies. For more information, please visit: www.bmwiventures.com
About ELISE
ELISE was founded in 2018 as a spin-off from the Alfred-Wegener-Institute, a renowned German research center. ELISE develops software that empowers engineers to visually create end-to-end workflows for automated product development by adding established modeling and simulation tools to Generative Design. For more info, visit ELISE at Formnext (booth C72) or elise.de.
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