Raiqon.AI: Codebeamer founders leave stealth mode

Requirements management is one of many domains that is currently being sustainably transformed by the use of AI. Today I would like to introduce another company that has only recently left stealth mode. Raiqon.AI is interesting to me for several reasons: Firstly, there are some similarities to the AI assistant Semiant, which I co-developed, which lends credibility to the idea, at least for me. Secondly, Raiqon.AI was founded by the founders of Intland, who recently sold Codebeamer to PTC. This team has both the resources and the experience to transform this market segment.

If you would like to find out more about Raiqon.AI, you can also register for the next webinar on August 1, which I will be moderating. will.

Movement in the market for product development solutions

Since the mid-2010s, it felt like the market for product development tools had been at a standstill for many years. The second generation of requirements management tools (Polarion, Jama, Codebeamer, DOORS Next) replaced the first generation. In the market for modeling tools, the top dogs were established (Enterprise Architect, MagicDraw/Cameo, Rhapsody, Simulink). A few acquisitions took place. Not much happened in other domains such as CAD or PLM.

But changes became apparent in the 2020s. Behind the scenes, entrepreneurs began to reinvent product development - and Spread.ai was founded in 2019, Flow Engineering already in 2016.

Things got really wild in 2022 when ChatGPT appeared on the scene. Shortly before that, I had stopped working on Semiant (which has long been in use with customers), and also Others recognized the importance of AI in product development and requirements management.

Raiqon.AI

Raiqon.AI was only founded around six months ago and appeared at the this year's ReConf 2024 with its own stand. Raiqon.AI uses the plug-in mechanisms of RE and ALM tools to seamlessly integrate new AI-based functions into them.

But what is particularly interesting is that the founding team consists of Janos and Szabi Koppany. Jonas was CEO of Intland until the sale to PTC, Szabi was CFO. This means that both have proven that they understand the market for RE/ALM tools and can operate successfully in it. The team is complemented by Geza Velkey, who has already successfully developed various AI products to product maturity at start-ups in Silicon Valley.

On the cover picture the Raiqon.AI team at ReConf 2024 (from left): Balázs Kiss (Senior Software Architect), Géza Velkey (CTO), Szabi Koppany (CEO)

The aim of Raiqon.AI is to make the entire product development chain more effective with AI-supported use cases in the medium term. However, to avoid getting bogged down in the early days, they are focusing on the automotive domain, the Codebeamer tool (in partnership with PTC) and use cases relating to requirements management.

Enterprise-Ready

At first glance, this does not sound new and is comparable to the promise of trace.space or Semiant. However, the focus is different: while trace.space develops a completely new tool for requirements management and Semiant uses the web browser as a comprehensive platform, Raiqon.AI focuses on the needs of enterprise customers.

This includes, for example, the fact that Raiqon.AI uses its own domain-specific AI model, which delivers better results than a generic LLM and can also be used on the company's own servers (no cloud constraints). The company has also already demonstrated scalability to millions of elements.

The automotive industry is facing the challenge of having to cope with increasing product complexity and faster product lifecycles with scarcer resources of skilled workers. With Raiqon.AI, we offer the first product tailored to the needs and requirements of the automotive industry that enables significant increases in productivity in the development process through the use of AI.

Szabi Koppany

One feature in particular sets Raiqon.AI apart from other tools: The solution takes into account policies regarding data access. This means that although it processes all the requirements in the AI model, it also takes into account the confidentiality of data within the company during operation. This means that an employee will never receive results that originate from a project that is not accessible to that employee.

Most recently, Raiqon.AI has already launched a TISAX certification This is often a prerequisite for OEMs and automotive suppliers when introducing new tools. PoCs with automotive customers are underway.

Webinar on August 1, 2024

Since I find the work of Raiqon.AI very interesting, I have agreed to moderate a product webinar on August 1, 2024, which we are holding together with PTC. The webinar is specifically about the use of Raiqon with Codebeamer in the automotive environment. However, the use cases are not necessarily automotive-specific and other tools will also be supported in the medium term (especially Jira).

Conclusion

Many of you have already noticed that I started looking at interesting start-ups at the beginning of the year. Raiqon.AI stands out from the competition thanks to its experienced founding team and clear focus. I am therefore looking forward to supporting Raiqon.AI Webinar on August 1 and am looking forward to the feedback from the community.