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Rillet raises $13.5M to build the modern accounting platform that makes zero day close a reality

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NEW YORK, July 29, 2024 /PRNewswire/ — We’re thrilled to announce that we have raised $13.5M, led by First Round Capital (Uber, Square, Notion, Looker) and Creandum (Spotify, Klarna), Susa Ventures (Robinhood) with participation from incredible individual investors including Kevin Hartz (founder of Eventbrite, Xoom and investor in SpaceX, Airbnb, Palantir), the former Chief Accounting Officer of Facebook and Stripe, and the Controller at Ramp.

Existing accounting platforms create more work than they solve for a shrinking accounting force

Today, high-growth companies face a catch-22 when it comes to accounting: use 25 year old software built for small businesses that doesn’t meet their needs (QuickBooks) or 25 year old software built for large corporations that doesn’t either (NetSuite). Either way, finance teams are stuck doing tons of manual work in spreadsheets to reconcile and report their financials. To exacerbate the issue, there are fewer accountants to do this work: 300,000 accountants left the profession in the last two years alone.

With the advancement of software in the last decade and AI more recently, a lot of this manual work can be automated away, freeing up finance teams to do more strategic and insightful analysis.

Rillet is the first accounting platform that automates almost everything for high-growth companies

Rillet is the first modern ERP that automates accounting for high-growth companies. A lot of the complexity when it comes to startup accounting is on the revenue side, so Rillet integrates with your payment processor and your CRM to simplify all of this. Rillet can run all kinds of workflow automations that finance teams used to have to do manually — from invoicing to closing the books and running investor reporting.

Rillet can even handle this automation across multiple entities, geographies, and currencies — turning a major pain point as companies scale internationally into a single view with a single login.

Fresh funding to make zero day close a reality

Rillet’s mission is to make zero day close a reality for everyone so companies can make decisions based on drillable, real-time financial information. Rillet is currently working with our customers across SaaS and usage-based revenue businesses and plans to use the new funding to further product build and expand to support customers in new verticals from e-commerce to fintech.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rillet-raises-13-5m-to-build-the-modern-accounting-platform-that-makes-zero-day-close-a-reality-302208527.html

SOURCE Rillet

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MEMS Drive: Paving the Way for Super-High Image Resolution

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TAIPEI, Dec. 26, 2024 /PRNewswire/ — Fabless chip firm MEMS Drive Hong Kong Ltd manufactures cutting-edge MEMS actuators targeted at mobile imaging in portable electronics. The company uses its proprietary MEMS design and process to allow CMOS sensors to achieve swift and precise ‘SensorShift’ and is the first semiconductor company to implement 5-axis stabilization in mobile cameras.

“With edge computing capabilities steadily advancing, MEMS Drive utilizes precise movement matching algorithms and artificial intelligence [AI] to derive multiple image-enhancing features besides just stabilization, such as super-resolution and improving identification capabilities,” says Colin Kwan, CEO and President of MEMS Drive during an interview with EE Times Asia. “MEMS SensorShift-driven image sensors overturn traditional voice coil motors [VCMs], and could be applied to mobile phones, sports cameras, wearable tech, surveillance, autonomous vehicles, robotic vision and other products, bringing unlimited possibilities to the future of imaging systems.”

It is for these reasons that the company won an Innovation Award and Best Sensor of the Year award for its piezo technology-enabled autofocus actuator and optical image stabilizer (OIS) actuator at EE Awards Asia 2024. Now in its fourth year, EE Awards Asia honors some of the best products, companies, and leaders making a difference every day in Asia’s electronics industry.

The MEMS autofocus (AF) actuator is a piezoelectric multi-morphic thin film actuator that can move at Z-axis and tip-tilt directions to achieve a 3-axis compensation. The MEMS devices are designed to be based on standard silicon fabrication processes, thereby enabling good scalability and ease of handling, testing, and packaging.

According to Colin, this sensor-based technology offers multiple advantages. “It provides 3-axis image adjustments as compared to 1-axis counterparts on lens-based AF systems; it also moves three times faster and 10 times more precise by detecting positions of less than a pixel, compared to 3-5µm on lens-based AF,” he explains. “And finally, by not using a motor to move the lens around, it consumes up to 50 times less power and avoids heating problems that could affect the image’s quality.”

Meanwhile, its OIS, known as SensorShift, is said to be the world’s smallest MEMS OIS actuator. It provides a 5-axis OIS solution to improve clarity and achieve stable and precise image.

“All vibrations in pitch, yaw, roll, translational X, and translational Y can be compensated with a single MEMS chip,” says Colin. “Due to its high precision and fast response in active movement, we can achieve another application called super resolution. By shifting the imager 1 pixel or half a pixel in different directions, capturing the image at each position, and then merging and processing those images, we can get a 4X or even higher-resolution image.”

Colin notes that compared to traditional lens-based OIS, MEMS Drive’s MEMS OIS is a sensor shift solution that provides superior stabilization performance with multiple advantages, including a 10ms fast response, just 4mW of power consumption, sub-pixel precision, and high image resolution in low light and video without blur.

“Powered by our patented electrical conductive flexure [ECF] technology, the MEMS Drive actuator provides consistent, durable performance,” says Colin. “With over 2.5 billion test cycles completed in continuous operation, these innovations are crucial for ensuring the highest standards in automotive applications and safety.”

MEMS Drive’s technology is suitable for smartphones, automotive, wearable technologies such as AR/VR camera systems, sports cameras, smart city applications, and robotic vision.

In this video interview, Colin also talks about his outlook for the semiconductor and electronics manufacturing industry over the next year, upcoming challenges amid the increasingly complex designs and architectures, and the new opportunities in the market.

For more information about MEMS Drive Hong Kong Limited and its innovative solutions, please visit: memsdrive.com
Youtube / Bilibili : MEMSDrive
LinkedIn: MEMS Drive

View original content to download multimedia:https://www.prnewswire.com/news-releases/mems-drive-paving-the-way-for-super-high-image-resolution-302338882.html

SOURCE EE Times Asia

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Nodepay Raises $7M Total Funding To Power AI Growth with Real-Time Data Infrastructure

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SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.

The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.

Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).

Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”

Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.

Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”

With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.

Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.

About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.

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View original content:https://www.prnewswire.co.uk/news-releases/nodepay-raises-7m-total-funding-to-power-ai-growth-with-real-time-data-infrastructure-302339478.html

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Plume Network Partners with Maseer to Tokenize $200M of Carbon Allowances

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NEW YORK, Dec. 26, 2024 /PRNewswire/ — Plume Network is proud to announce a strategic partnership with Maseer, an Abu Dhabi based tokenization platform, to bring $200M in Carbon Allowances exclusively on-chain to Plume. Built on Plume’s Real-World Asset Finance (RWAfi) ecosystem, Maseer will offer a tokenized solution to one of the fastest-growing alternative asset classes: compliance carbon.

Empowering Climate Action Through Compliance Carbon Tokenization

Compliance carbon has been one of the fastest growing alternative asset classes given increased regulatory and business scrutiny on emissions. The S&P Global Carbon Credit Index, which tracks the most liquid segment of the tradable carbon credit futures markets, has seen a 15.68% annualized return over the past five years. The value of these markets reached nearly one trillion USD in 2023.

The partnership with Plume Network allows Maseer to bring fully collateralized carbon products on-chain, where they will be fully compatible with Web3’s potent DeFi sector. DeFi integration vastly enhances compliance carbon markets with superior liquidity solutions and greater access to a global body of investors, broader market demand, and new yield sources.

“We are excited to partner with Plume to bring carbon allowances on chain. Plume is uniquely positioned to bring this vision to fruition because they are the only chain purpose built for RWAs. They’ve raised the bar with their tokenization engine, infrastructure tooling, and ecosystem network effects. We believe Plume is on the bleeding edge of on-chain adoption of RWAs,” said Bradley Allgood, CEO of Maseer.

“Energy transition is an asset category that we have been increasingly focused on at Plume because of growing demand for climate action, both from a government and corporate sustainability perspective. Volumes for the global carbon credit market are forecasted to grow at a 39% CAGR from 2024 to 2033,” said Teddy Pornprinya, Chief Business Officer and Co-Founder at Plume Network.

What are carbon allowances?

Compliance carbon allowances trade under cap-and-trade programs known as Emissions Trading Systems (ETS). These systems create transparent, liquid markets that are government-mandated and regulated. As of April 1, 2024, approximately 18 percent of global greenhouse gas emissions are covered by emissions trading systems (ETS). Carbon allowances are distinct from project-based carbon offsets and offer a market-based approach to regulating a region’s emissions, with mandatory participation for specified industries. Carbon allowance supply is managed by government agencies and adjusted primarily through an annually declining cap. 

About Plume
Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs. Learn more at https://www.plumenetwork.xyz/ or contact press@plumenetwork.xyz

About Maseer
Maseer operates out of Abu Dhabi Global Market (ADGM), the world’s leading Special Economic Zone (SEZ) for digital asset innovation. Maseer is led by Tokenization and Free Zone Veteran Bradley Allgood and is focused on the design of bringing real world assets on chain to be fully interoperable with DeFi. Maseer has developed strategic relationships with Sovereign Nations and Large Enterprises to identify the highest quality real world assets around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/plume-network-partners-with-maseer-to-tokenize-200m-of-carbon-allowances-302339461.html

SOURCE Plume Network

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