VCs exit Understand.AI to trade

Lea Partners, Frontline Ventures, Synapse Partners and Agile Partners all owned stakes in the company after investing in Understand.AI's seed round. The company has only held one round of institutional funding.

DSpace is a Germany-based producer of engineering tools for developing and testing mechatronic control systems.

Following the transaction, Understand.AI will invest in artificial intelligence applications and cloud-based tools, improve customer service and further develop its existing products.

Previous funding
In January 2018, Lea Partners led a seed funding round of $2.8m for machine learning startup, Understand.AI. Frontline, Synapse and Agile also participated in the funding round.

Company
Based in Karlsruhe, Germany, the company focuses on automated data analysis, data annotation, and extraction of simulation scenarios for autonomous vehicles. Founded in 2016, the company employs 40 people and has offices in Berlin and San Francisco.

People
DSpace – Herbert Hanselmann (founder, managing director).
Understand.AI – Marc Mengler (co-founder, CEO); Philip Kessler (co-founder, CTO).

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• Topics
• Exits
• DACH
• Technology
• Germany
• Venture
• Trade sale