DesignVerse raises $5.5M to enhance its AI platform for enterprise software using existing design systems.
DesignVerse, a Romanian AI startup, has successfully raised $5.5 million in seed funding to expand its efforts in modernizing enterprise software. The funding round was led by Begin Capital and Gapminder VC, with participation from Underline Ventures and angels linked to Adobe, LSEG, and Uipath. The company plans to use the funds to grow its engineering team and penetrate new markets in Europe and the US.
The platform developed by DesignVerse is designed to generate enterprise software directly from a company's existing design documentation and systems. This approach significantly reduces the time and complexity typically involved in software development. By leveraging AI, the platform aligns automatically with the company's technical infrastructure, thus eliminating the need for extensive manual coding and reducing potential inconsistencies.
A notable case of the platform's impact is its collaboration with EUROCONTROL, where a legacy software system was overhauled in just over a month, compared to an estimated six months through conventional methods. This efficiency has driven DesignVerse to an annual recurring revenue of $1.1 million in under five months.
The funds will enable DesignVerse to recruit more engineers and broaden its market presence. The company aims to cater to sectors where reliability and security are crucial, such as finance, defense, and government. According to Robert Dragutoiu, CTO of DesignVerse, "Our models are specifically designed for the constraints of complex infrastructures found in mission-critical environments."
With the legacy software modernization market projected to grow significantly, DesignVerse is well-positioned to address the increasing demand for efficient and reliable software solutions. The company's innovative approach offers a path for enterprises to modernize without the typical delays and errors associated with traditional software development processes.