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TSVC Corrects Public Record: Amino Capital Founder Larry Li Was Not Involved In TSVC's 2011 Zoom Seed Investment

<p>LOS ALTOS, Calif.--(BUSINESS WIRE)--August 20, 2026--</p><p> <strong>TSVC (formerly TEEC Angel Fund)</strong> today issued a public clarification regarding inaccurate public statements made by <strong>Larry Li</strong>, Founder and Managing Partner of <strong>Amino Capital</strong>, concerning TSVC's landmark <strong>2011 seed investment in Zoom Video Communications (then SaasBee).</strong> </p><p> Founded in Silicon Valley in 2010, TSVC has invested in more than <strong>200 technology startups</strong>, helping build <strong>12 unicorns and 5 IPOs </strong>from the seed stage, including <strong>Zoom, Carta, Ginkgo Bioworks, Iterable, Musely, Zūm, Plus, d-Matrix, and Exa</strong>. Today, TSVC focuses on backing founders building the next generation of <strong>Physical AI</strong> companies. </p><p> The 2011 Zoom seed investment was made by <strong>TEEC Angel Fund I</strong>, the predecessor of today's TSVC. <strong>Larry Li was not a General Partner of TEEC Angel Fund I and was not responsible for sourcing, evaluating, negotiating, or managing the Zoom investment.</strong> TSVC is therefore correcting public statements that identify Mr. Li as a "co-founder of TEEC Angel Fund" or otherwise attribute TSVC's historic Zoom investment—in whole or in part—to Mr. Li or Amino Capital. </p><p> The need for this correction is demonstrated by actual public confusion. Independent organizations have already published materials identifying <strong>Amino Capital as the investor behind Zoom's 2011 seed financing</strong>, despite the fact that <strong>Amino Capital was founded in 2012—after the Zoom investment had already been completed.</strong> Historical inaccuracies, when repeated across biographies, interviews, websites, and third-party publications, can gradually become accepted as fact, entirely in error. </p><p> On June 22, 2026, TSVC formally requested that Amino Capital correct inaccurate public statements concerning Li’s role in TEEC Angel Fund and the Zoom investment. </p><p> Supporting documentation—including screenshots of the public statements discussed above, historical records, and publicly available court filings—is available on the official TEEC Angel Fund website: </p><p> <a rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.teec-angel.com%2Flitigation&amp;esheet=54592562&amp;newsitemid=20260819352262&amp;lan=en-US&amp;anchor=www.teec-angel.com%2Flitigation%2F&amp;index=1&amp;md5=3814f91c74fd0abc0d935bab080d64b2" shape="rect">www.teec-angel.com/litigation/</a> </p><p> TSVC believes that accurate historical attribution strengthens trust, transparency, and integrity throughout the venture capital ecosystem. By preserving the historical record through original documentation and public records, TSVC seeks to help ensure that Silicon Valley’s investment history remains accurate for entrepreneurs, investors, researchers, journalists, and future generations of founders. </p><p><img alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260819352262r1&amp;sid=ventb&amp;distro=nx&amp;lang=en" style="width:0;height:0"><span class="bwct31415"></span></p><p id="mmgallerylink"><span id="mmgallerylink-phrase">View source version on businesswire.com: </span><span id="mmgallerylink-link"><a href="https://www.businesswire.com/news/home/20260819352262/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819352262/en/</a></span></p><p> TSVC </p><p> <a rel="nofollow" href="mailto:chun@tsvcap.com" shape="rect">chun@tsvcap.com</a> </p>

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AI-driven short drama platform Meantio debuts, removing technical barriers for user-generated short video storytelling

The short drama market has grown quickly in recent years, but content creation can still involve technical barriers for everyday users, while professional production costs may limit how much content gets made and who gets to make it. Meantio, an AI-powered short drama creation and entertainment platform, has launched on iOS, offering a set of AI tools designed to support short drama creation, distribution, and community engagement. The company says the platform is intended to make short-form storytelling more accessible to a wider range of users.

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Kaszek Makes First Aviation AI Investment, Backing TravelX's Trillion-Dollar Dynamic Inventory Vision

<p><strong></strong></p><p class="bwalignc"><strong> <i>Leading Latin American Venture Capital Firm Bets AI-powered Dynamic Inventory Will Redefine Airlines’ Post-Booking Revenue Management</i> </strong></p><p></p><p>NEW YORK--(BUSINESS WIRE)--August 19, 2026--</p><p> TravelX, the AI-native pioneer in post-booking revenue management, announced that Kaszek, Latin America's leading venture capital firm, made a substantial investment in its platform, bringing the company's total funding to $45 million. </p><p id="news-body-cta">This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20260819883118/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819883118/en/</a></p><div id="bwbodyimg" style="width: 480px; float:left; padding-left:0px; padding-right:20px; padding-top:0px; padding-bottom:0px;"><img src="https://mms.businesswire.com/media/20260819883118/en/2878730/4/TravelX_Founders.jpg" alt="TravelX founders (L–R): Pablo Santillan, Chief Technology Officer; Juan Pablo Lafosse, Chief Executive Officer; Francisco Vigo, Chief Operating Officer."><p style="font-size:85%;">TravelX founders (L–R): Pablo Santillan, Chief Technology Officer; Juan Pablo Lafosse, Chief Executive Officer; Francisco Vigo, Chief Operating Officer.</p></div><p> The investment marks Kaszek's first foray into the aviation technology space, reflecting its conviction that artificial intelligence is creating an entirely new category of revenue management solutions, one capable of transforming airline inventory from a static asset into dynamic, continuously optimized inventory. TravelX believes this shift represents a major boon to the global airline travel industry that will help it cross the trillion-dollar revenue threshold. </p><p> "Artificial intelligence is reshaping every major industry, and we believe aviation is another high-potential opportunity market to be redefined," said Nicolas Berman, Partner at Kaszek. "TravelX isn't simply improving an existing process; its AI-native platform has the potential to fundamentally change how airlines monetize inventory, optimize their networks, and serve travelers. We are excited to partner with the TravelX team as they build what we believe can become a defining technology company in global aviation." </p><p> With the backing of Kaszek, TravelX has completed a Series A financing round, with participation from Thayer Ventures, which will accelerate product innovation, expand TravelX's AI platform, strengthen its global commercial presence, and support the company's mission to become the intelligence layer powering the next generation of airline revenue management. </p><p> "For decades, airlines have optimized the moment a ticket is sold. We have proven there are huge, untapped revenue opportunities that begin after the booking," said Juan Pablo Lafosse, Chief Executive Officer of TravelX. "Every day, millions of airline seats become more or less valuable as demand, operations, and customer circumstances evolve. AI allows airlines to respond to those changes continuously, transforming static inventory into a dynamic commercial asset. We're proud that Kaszek shares this vision and excited to build the future of airline commerce together." </p><p> For decades, airline inventory has remained largely static once a ticket is issued, limiting an airline's ability to respond to changing demand, operational disruptions, and evolving customer needs. Unlike traditional revenue management systems that rely primarily on forecasting demand before a ticket is sold, TravelX continuously analyzes real-time operational conditions, customer behavior, network demand, and commercial opportunities after booking. The platform enables airlines to make intelligent inventory decisions throughout the customer journey, maximizing profitability while improving operational efficiency and passenger satisfaction. </p><p> Today, TravelX partners with some of the world's most innovative airlines, including Viva, Volaris, AirAsia, WestJet, GOL, Scoot and Cebu Pacific, with more global airline deployments currently underway. </p><p> <b>About TravelX</b> </p><p> TravelX is the AI-native pioneer in post-booking revenue management. Its machine learning models transform static bookings into dynamic, real-time inventory, giving airlines new revenue streams and giving passengers greater flexibility. <a rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Ftravelx.com&amp;esheet=54588562&amp;newsitemid=20260819883118&amp;lan=en-US&amp;anchor=www.travelx.com&amp;index=1&amp;md5=8d9e2355e7d926b03ada15ae961a6a07" shape="rect">www.travelx.com</a> </p><p> <b>About Kaszek</b> </p><p> Kaszek is the leading venture capital firm in LATAM, partnering with exceptional entrepreneurs to build lasting, high-impact technology-based companies. Founded in 2011 by Hernán Kazah, co-founder of MercadoLibre, and Nicolás Szekasy, MercadoLibre's former CFO, Kaszek has raised more than $3 billion dollars across nine funds and backed more than 130 technology companies, including Nubank, QuintoAndar, Kavak, Creditas, Bitso, Wellhub, and Nuvemshop. <a rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kaszek.com&amp;esheet=54588562&amp;newsitemid=20260819883118&amp;lan=en-US&amp;anchor=www.kaszek.com&amp;index=2&amp;md5=f3ae7ee14d9c913aa77aed46e28df505" shape="rect">www.kaszek.com</a> </p><p><img alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260819883118r1&amp;sid=ventb&amp;distro=nx&amp;lang=en" style="width:0;height:0"><span class="bwct31415"></span></p><p id="mmgallerylink"><span id="mmgallerylink-phrase">View source version on businesswire.com: </span><span id="mmgallerylink-link"><a href="https://www.businesswire.com/news/home/20260819883118/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819883118/en/</a></span></p><p> <b>Media Contacts</b> </p><p> <b>TravelX </b><br><a rel="nofollow" href="mailto:henry.obyrne@travelx.io" shape="rect">henry.obyrne@travelx.io</a> </p><p> <b>Kaszek </b><br><a rel="nofollow" href="mailto:pr@kaszek.co" shape="rect">pr@kaszek.co</a> </p>

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Rillet Raises $100M Series C at $1B Valuation to Build Accounting Superintelligence

<p><strong></strong></p><p><strong> <i>ICONIQ leads the round with participation from existing investors Sequoia and Andreessen Horowitz </i><b>—</b><i> the company’s third raise in one year.</i> </strong></p><p></p><p>SAN FRANCISCO--(BUSINESS WIRE)--August 19, 2026--</p><p> <a rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rillet.com%2F&amp;esheet=54591862&amp;newsitemid=20260819978953&amp;lan=en-US&amp;anchor=Rillet&amp;index=1&amp;md5=c6e679d35ed7e16cbb95dca8fc9b1669" shape="rect">Rillet</a>, the AI-native ERP (enterprise resource planning) platform for modern finance teams, today announced a $100 million Series C led by ICONIQ at a $1 billion valuation, with participation from Sequoia, Andreessen Horowitz, Sequoia Global Equities, Bain Capital Ventures, Oak HC/FT, Battery Ventures, FirstMark, Scale Venture Partners, and Creandum. The round is Rillet’s third in the last year and brings total funding to more than $200 million. </p><p> The raise follows a period of rapid growth for the company. Rillet doubled new ARR in the last three months and now serves more than 600 customers, including publicly listed enterprises and the fastest growing AI companies of all time. After proving its platform for tech and AI companies, Rillet is rapidly expanding into new verticals including biotech, healthcare, fintech, logistics, professional services and more where large legacy enterprises are replacing Oracle Fusion, SAP, Workday, Microsoft Great Plains, and NetSuite to run their accounting on Rillet. </p><p> The investment accelerates Rillet’s mission to build the agentic operating layer for finance: the platform where finance professionals and AI agents work together to run the financial operations of a company. </p><p> With Rillet, the ERP becomes the harness for the modern finance organization, where people and agents share the same financial data, apply the same accounting policies and controls, and work from a single, continuously updated view of the business. Agents perform increasingly complex financial work, while finance teams retain visibility, approval authority and a complete audit trail. </p><p> Rillet is creating an entirely new category of finance infrastructure. Legacy ERPs store transactions while the real work happens in spreadsheets and bolt-on tools, and the newest wave of AI products repeats that pattern by layering agents on top of systems that were never designed for them. Rillet vertically integrates the stack: structured data flows through native integrations into a real-time general ledger, and AI agents operate directly in that ledger with full context, a complete audit trail, and human approval where necessary. </p><p> “For the last two decades, the ERP has been treated as a system of record, a place to store what already happened. In the AI era, it has to become the operating layer for what happens next. Finance agents need more than access to data; they need to work inside the general ledger,” said <a rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fnicolas-kopp%2F&amp;esheet=54591862&amp;newsitemid=20260819978953&amp;lan=en-US&amp;anchor=Nicolas+Kopp&amp;index=2&amp;md5=aca69525fb39f7df3573a58e76c3cfea" shape="rect">Nicolas Kopp</a>, CEO and co-founder of Rillet. “Rillet is building that harness: one environment where humans and agents share the same financial truth, divide the work and keep every action auditable. The result is a finance function that can operate 24/7 and in real time.” </p><p> Rillet’s customers show what that shift looks like in practice. Finance teams at companies like Mercor are working hand in hand with Rillet’s AI agents to scale past $2 billion in ARR with a team of three. </p><p> “In our view, Rillet is the clear market leader in AI-native accounting infrastructure,” said Seth Pierrepont, General Partner at ICONIQ and new Rillet board member. “What stands out to us is how customers actually run on it — multi-billion-dollar businesses operating with finance teams a tenth the traditional size, closing their books continuously. We believe Rillet is the foundational infrastructure for the next generation of enterprises in the AI era, and we are proud to deepen our partnership.” </p><p> Rillet has been intentional about building this new category of finance with the accounting firms that audit and advise the world’s largest companies. Rillet and Ernst &amp; Young launched an alliance for finance transformation earlier in 2026 and the company is an official partner with more than half of the Accounting Today top 20 CPA firms. </p><p> “In 2-3 years, every company will run finance this way - agentic and in real-time,” Kopp concluded. “We're building the system of context and harness that will take them there and redefine what's possible for the finance team of the future.” </p><p> <b>About Rillet</b> </p><p> Rillet is the AI-native ERP built for the era of agentic finance. By combining a real-time general ledger, continuous close architecture and AI agents in one system, Rillet enables humans and agents to run finance together with full context, controls and auditability. Public companies and fast-growing enterprises including Mercor, Function Health, and Temporal run on Rillet. Rillet works with the top accounting firms and launched an alliance with EY in 2026. Learn more at rillet.com. </p><p><img alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260819978953r1&amp;sid=ventb&amp;distro=nx&amp;lang=en" style="width:0;height:0"><span class="bwct31415"></span></p><p id="mmgallerylink"><span id="mmgallerylink-phrase">View source version on businesswire.com: </span><span id="mmgallerylink-link"><a href="https://www.businesswire.com/news/home/20260819978953/en/" rel="nofollow">https://www.businesswire.com/news/home/20260819978953/en/</a></span></p><p> <b>Media Contact </b><br>Stephen Hedlund <br><a rel="nofollow" href="mailto:stephen@rillet.com" shape="rect">stephen@rillet.com</a> </p>

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Alibaba's AI video model rises to No. 2 in global rankings, as OpenAI's Sora and ByteDance's Seedance fall away

The release arrives at a moment of remarkable upheaval in the AI video generation market — and Alibaba appears keenly aware of the timing. OpenAI discontinued Sora after it proved financially unsustainable. ByteDance indefinitely shelved the international rollout of Seedance 2.0 following a barrage of copyright complaints from Hollywood studios. For enterprise procurement teams that had been evaluating or integrating those tools into marketing, advertising, and content production workflows, the competitive landscape has contracted sharply in a matter of months.