Can AI Change How Hollywood Structures Stories? Corto.ai is Launching to Find Out

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

Can AI Change How Hollywood Structures Stories? Corto.ai is Launching to Find Out

Having watched his reputation flourish upon a foundation of self-spun fabrications, then crumble into a heap of infamy that led him to change his name, Yves Bergquist knows a thing or two about stories.

As detailed in a November 2019 story in The Hollywood Reporter, Bergquist, who leads artificial intelligence (AI) projects at USC's Entertainment Technology Center (ETC), was formerly a national security analyst and ABC News consultant named Alexis Debat. Once his lies were exposed, he left Washington D.C. in 2007, shrouded in shame.


Now, Bergquist is set to go public with Corto, his previously stealth-mode startup that uses AI to help storytellers in the entertainment industry better understand their content, their operations, and their audiences. Since 2016, Corto has worked symbiotically with the ETC, a think tank founded in 1993 by Star Wars creator George Lucas to support cooperative technological advancement in Hollywood.

As the THR story conveyed, Bergquist seems genuinely contrite. He has embraced working extra hard to overcome his tarnished past and salvage his integrity.

"This is a very sensitive thing for me," he told dot.LA. "Twelve years later it's still haunting."

With the coronavirus indefinitely shutting down production and threatening to erode disposable incomes, Bergquist's comeback may be just in time to help Tinseltown recover from a looming downfall of its own.

Introducing Corto

Even in normal times, says Bergquist, Hollywood faces challenges. With front-loaded costs and lengthy investment timelines, it's an inherently risky industry. And Hollywood's customers have unique expertise in the products they consume.

"Cars and yogurt don't deal with car and yogurt experts," he said. "Media sells to customers who are extremely experienced and knowledgeable about the product of media."

Taking a page out of philosopher Yuval Noah Harari's book, Bergquist waxes poetic on the idea that religion, nationality, and modern economies all rely on collective buy-in to stories.

"They're the most important objects in human civilization," he said. "They're the reason we have a society."

Put that way, it's no wonder that people crave stories; and that many seek to profit from satisfying that craving. Indeed, as technology has progressed, the variety and volume of content platforms and stories at our fingertips has exploded.

Where Corto comes in, is to help storytellers–and story sellers–meet that demand and stand out against that competition.

The end goal, according to Bergquist: "Better understand what resonates with whom, and why."

Modern medicine offers a useful analogy. Previously, Bergquist explains, doctors made diagnoses with little information.

"Say you (were to) walk into my office. You seem to have a fever, your tongue is white. Those generally are associated with cold or bronchitis. So there's your diagnosis."

Compare that to modern healthcare, which empowers physicians to collect far more sophisticated and useful information. And soon enough, pundits forecast a new era of medicine, where tech-enabled lifestyle data merge with a patient's medical history, genetics, and more to provide the granular insights needed for personalized healthcare.

"It's the same thing for entertainment," said Bergquist.

So how does Corto aspire to bring about a new era of stories?

The What: Content Genomics

Essential to Corto is its database of stories that it has thoroughly analyzed using several AI techniques. Like a submarine, Corto probes the depths of a story at a level and speed that a human brain cannot, and extracts the extent to which the story contains certain features, including dozens of "emotional tonalities" like melancholy, power, and generosity. Soon, Bergquist says, Corto will be able to extract additional deep features, like those related to specific characters and the story's structure.

For now, Corto's value starts with what it can tell a user about a script that's not in its database.

Bergquist showed dot.LA how it works, using Ad Astra as an example. He expressed that the interface, while functional — and actively used by a "major studio" for the past several months — is in early form, and that the feature set is still just about "5% of the vision."

When a user uploads a script, Corto takes about five seconds to "parse" the document. Then, like a doctor receiving a patient's genetic readout, new doors suddenly open.

Corto has parsed the script, in this case Ad Astra

Typing "emotion for AD ASTRA" in the command bar brings up a table of dozens of those emotional tonalities, each with a score from 0-100. Anything in the 25-75 range is a weak signal, Bergquist explained, meaning that particular emotion is not especially prominent in the script. Scores below 25 suggest a notable absence of the given emotion, while those above 75 indicate a strong presence.

Corto emotional tonality output

The command "comps for AD ASTRA" yields a list of titles from the Corto database that are similar to the given title based on the deep features that Corto has unearthed. The lower a title's "distance" from another, the more similar they are. "Comp emotion" breaks down these comparisons across each of the dozens of emotional tonalities. Search results can be filtered, such as by type (movie, TV episode, etc.), release year, or country.

Comps for Ad Astra


Ad Astra comps across emotional tonalities

Importantly, these results can reveal unexpected similarities. The comparable titles that Corto yielded for a test user's spy procedural show, for instance, surprisingly included several Sci-Fi titles, said Bergquist.

"Suddenly," he said, "there's a whole new audience that they could potentially market this to."

In the future — later this year, according to Bergquist — Corto will add visual analysis to its text parsing. On top of exploring a script's depths, it will also be able to extract insights from video.

"We want to create a tool," Bergquist explained, "that essentially understands how specific human emotions or narrative structures are expressed visually and from a sensory perspective."

It would function similarly to what Corto currently does with scripts, except it would turn audiovisual footage, rather than text, into data and insights.

Parsing video footage

Encoding and labeling the various elements of video would also theoretically increase pre- and post-production efficiency. For example, explained Bergquist, a film editor could say, "'Show me all the times when a female character was smoking a cigarette in the rain' — things like that. You cannot search content like that currently."

And the content comparisons this would enable–based on attributes that do not exist in a script–would also help to improve recommendation algorithms, which Bergquist describes as the "big kahuna" for Corto's content analysis.

Whether the purpose is to identify just the right title for someone to watch next, or to successfully execute a finely targeted marketing campaign based on a title's comparables, one needs insight not just about the content, but also the audience.

The Who: Audience Genomics

"It's not just, 'okay, people liked Avengers, so they'll probably like this'," Bergquist said. "It's 'why did they like it? What did they like about it? Who liked which attributes?'"

To find these answers, Bergquist explained, Corto probes the wide world of social media.

By analyzing Tweets, Reddit posts and such that are related to a given title, and using analytical methods similar to those used for the content analysis, Corto "can derive positive or negative sentiment for a title based on attributes like the acting, the cast, the director, visual elements, emotional tonalities, the music, the plot and more."

Using a method called knowledge representation to pair this granular data with broader datasets like census data and voting behavior can provide a detailed picture of who these groups are, and where to find them.

"If you give us a script we'll give you all the zip codes where each narrative domain and/or character will resonate the most," Bergquist said.

What's more, Corto layers in network analysis, so that on top of knowing what resonates with whom, and where they are, it also shows how sentiment travels from one group to another. Particularly useful is the identification of "swayable" communities–those whom Corto believes are not yet fans of a given title, but could be converted. Armed with the knowledge of what titles and attributes have historically resonated with such a group, "these are the communities that you can target as a marketer."

"Since we have content analysis integrated directly with audience analysis," Bergquist summarizes, "we can run your script, get a list of comparables, then immediately give you deep insights on the size and type of audience for your script, directly based on millions of social media conversations across all the places where people talk about media."


Helping Hollywood

Though Bergquist shared plenty with dot.LA, he showed a practiced guardedness when asked about specific customers and pricing.

"I would love to tell you everything," he said, "but I would get sued into oblivion if this stuff was identified. Working with Hollywood is like working for the CIA."

He did share, however, that two studios have currently licensed Corto, with a third set to sign up soon. He declined to provide pricing information.

Corto is not the only AI-for-storytelling game in town. Cinelytic, also L.A.-based, uses AI for film analytics and project management. The firm, founded in 2013, recently inked a deal with Warner Bros. And StoryFit, which is headquartered in Austin but does most of its business in Los Angeles, has found some success licensing its tools which, like Corto, include elements of natural language processing (NLP) and sentiment analysis to analyze scripts.

"Marketing is frequently our first stop when we're introduced to a studio, because they're used to using data," StoryFit Chief Executive Monica Landers told dot.LA. "But we're really a better fit during development."

This often entails helping creatives avoid what Landers calls "red flags."

"You may want a character to be intelligent," she explains as an example, "but our analysis will show that she's actually speaking less intelligently than other characters. Or we can surface that your script is too flat. Or that the balance of dialogue and action is off."

StoryFit does a variety of projects, ranging from focusing on one script to a broader landscape analysis. Landers says customers include large and mid-size studios, and networks.

"Annual subscriptions range for most studios from $5,000 - $40,000 a month," she said.

"We've taken a radically different approach," claimed Bergquist. "As a result, we're able to output much deeper insights from a much wider dataset."

AI Skepticism

"My feeling about using NLP on scripts, is there's just so many places that can go wrong," said Brian Dolan, who formerly managed NLP analytics as director of research at MySpace and with the CIA, and is now Chief Executive of LA-based AI venture accelerator Verdant.ai.

"I'm skeptical it'll hit two marks," he told dot.LA. "I don't think it'll get to the sophistication where it can (predict performance), and more importantly, I'm not sure it can reach a level of sophistication where it can be tested – how do we know where it's making a mistake?"

"That's on top of whether machines should (even) be trying to analyze content," Dolan continued. "Aren't we humans making stories for other humans? Who benefits? The finance department – not the audience."

"Look, this isn't a silver bullet," retorts Bergquist. "And it's going to be a long time until it is. What this is, is a set of powerful tools to give development and marketing executives a lot more context and data than was previously available."

"Tens of billions of dollars are being spent every year making and marketing media content," he wrote. "If we can optimize even 5% of that – and it's likely we could do even more, from what our initial tests tell us – that's an enormous amount of money."

Neither CEO denied that what they are aiming to do is hard. And they both recognize that appealing to the community that will ultimately use these tools is crucial. To that end, each emphasized that what they seek to do is not replace people and processes, but augment them. Bergquist points out that Corto has the advantage of having been developed with a high degree of Hollywood input through ETC members, which include most major studios.

In the future, Bergquist believes Corto can reach the sophistication that's needed to make predictions about a story's bottom line. For now, he is taking it slow.

"The last thing the AI field needs is more buzz."

Knowing full well what can happen when a story gets out of hand, Bergquist appears to be ratcheting up the caution in his personal comeback sequel.

"What bit me in the ass in my last career is I created a story that was false," he reflected.

Time will tell how his story this time around lands with his own target audience.

---

Sam Blake covers entertainment and media for dot.LA. Find him on Twitter @hisamblake and email him at samblake@dot.LA

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Who Gave the AI Access?

🔦 Spotlight

Happy Friday, Los Angeles.

The newest employee in the office does not need a desk, a salary or a coffee order. But it may have access to your company’s emails, financial records, customer data and software systems.

That raises a fairly important question: Who decides what an AI agent is allowed to do?

El Segundo-based cybersecurity company Saviynt is building its next chapter around the answer.

Carrick Capital Partners announced this week that it closed a $600M continuation vehicle for Saviynt, including a new $255M investment in the company. The transaction allowed Carrick’s existing investors to either take liquidity or remain invested, while also providing liquidity to Saviynt employees through a tender offer.

Continuation vehicles are not exactly known for making gripping Friday reading. The company behind this one is considerably more interesting.

Saviynt develops identity security software that helps businesses determine who can access their applications, data and infrastructure. Increasingly, however, “who” does not refer exclusively to a person.

Companies are deploying AI agents that can retrieve information, write code, communicate with customers and complete multistep tasks with limited supervision. These digital workers need access to company systems to be useful, but every new permission also creates another opportunity for sensitive information to be exposed or an unintended action to be taken.

In other words, AI agents may be tireless employees. They are not necessarily trustworthy ones.

Saviynt is addressing that problem through Zuma, its platform for discovering, securing and governing AI agents, large language models and other nonhuman identities alongside a company’s human workforce. The goal is to give businesses one place to determine what every identity can access, whether it belongs to an employee, a contractor, a software application or an autonomous agent operating at machine speed.

The opportunity appears to be growing quickly. Saviynt has surpassed $300M in annual recurring revenue, up from approximately $10M when Carrick first invested. The company says bookings have increased by more than 80% this year while customer retention remains at 96%.

The new investment was completed as part of the final close of Saviynt’s previously announced $700M Series B, which valued the company at approximately $3B. Carrick’s continuation vehicle was led by Coller Capital and co-led by HSBC Asset Management, giving the investment firm more time and capital to remain behind one of its strongest-performing companies.

For Saviynt, the funding will support further development of its identity platform, deeper integrations with major cloud and software providers and its push to become a central security layer for the agentic workplace.

That ambition reflects a broader change taking place inside companies. The first wave of enterprise AI focused largely on what the technology could generate. The next phase is about what it can actually do, and whether businesses can maintain control once AI moves from answering questions to taking action.

Saviynt is betting that identity will become the gatekeeper.

AI agents are gaining access to the digital workplace, whether corporate security teams are ready for them or not.

Someone still has to hold the keys.

More from this week’s LA startup and venture scene below.

🤝 Venture Deals

    LA Venture Funds

    • Fulcrum Ventures participated in Critical Materials Group’s $10.3M seed round, led by Overmatch Ventures and joined by Victory Six Advisors. The Austin-based defense manufacturer will use the funding to develop and commission modular, automation-ready production systems designed to expand domestic manufacturing capacity for munitions and advanced energetic materials. - learn more
    • Fusion VC participated in Newlight’s $9M seed round alongside lomarlabs, BIRD Energy, Undeterred Capital and CiRi Ventures. The San Francisco-based maritime technology company recently demonstrated its hydrogen-hybrid retrofit on an 8,500-nautical-mile commercial voyage, reducing fuel consumption by 24% and carbon dioxide emissions by 28%. - learn more
    • Rebel Fund participated in Metal’s $4.5M seed round alongside a16z, Y Combinator, Gaingels, Indus Valley Capital, Phaze Ventures and Pioneer Fund. Metal will use the funding to build an AI-native operating system that helps founders identify relevant investors, manage outreach and automate other parts of the venture fundraising process. - learn more
    • UP.Partners participated in Reframe Systems’ $40M funding round, led by Energy Impact Partners and joined by Counterpart Ventures, E12 Ventures, Global Brain, Thin Line Capital and LACI Impact Fund. The homebuilding startup will use the capital to expand its network of robotics-powered microfactories, which it says can construct homes three times faster and at 35% lower cost than traditional methods. - learn more
    • Clocktower Technology Ventures participated in Sharpi’s $4M seed round, co-led by NXTP and ONEVC and joined by MAYA Capital. The Brazilian startup will use the funding to expand its team and develop autonomous AI agents that connect WhatsApp conversations with enterprise systems to automate B2B sales tasks such as order processing, customer follow-ups and demand generation. - learn more

    LA Exits

    • Extensiv, a California-based provider of warehouse management and fulfillment software, has been acquired by Descartes Systems Group for approximately $120M in cash. The acquisition adds Extensiv’s AI-enabled inventory, order, billing and omnichannel fulfillment tools to Descartes’ logistics network, strengthening its offerings for third-party logistics providers and ecommerce brands. - learn more
    • DocSolutionUSA has been acquired by Stewart Information Services alongside ProTitleUSA, adding mortgage document generation and automation capabilities to Stewart’s title services platform. The companies provide title, document and due diligence services for mortgage servicers, investors and capital markets clients; financial terms were not disclosed. - learn more
    • Fysh Foods, the Los Angeles-based plant-based seafood brand founded by creator and entrepreneur Zoya Biglary, has been acquired by City Roots Hospitality in an all-cash deal with undisclosed terms. City Roots plans to introduce Fysh Foods’ raw fish alternatives across its New York City restaurants and potentially expand the brand beyond the city as its restaurant portfolio grows - learn more

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      An LA AI Company Just Won Entertainment’s Backing

      🔦 Spotlight

      Hello LA.

      The entertainment industry has spent the past several years debating what generative AI could take from creators.

      This week, some of its biggest companies put money behind an AI startup promising to build something for them instead.

      Los Angeles-based Stability AI raised $76M in Series B funding from an investor group that includes Electronic Arts, Sony Music Group, Universal Music Group and Warner Music Group. AMD Ventures and Pacific Alliance Ventures also joined the round, while LA-based MANTIS Capital and Sound Ventures are among the company’s existing backers.

      The financing brings Stability AI’s total funding under CEO Prem Akkaraju to $232M, including two equity rounds and convertible notes. The company plans to use the new capital to expand its creative production tools, applied research and professional services across music, gaming and entertainment.

      The amount is notable. The names attached to it are the bigger story.

      Generative AI’s arrival in entertainment has been anything but quiet. Artists have questioned whether their work was used to train models without permission. Studios have faced pressure over how the technology could affect jobs. Record labels have pursued AI companies in court while simultaneously exploring how the same technology might fit into their businesses.

      Now, several of the world’s largest entertainment companies are investing directly in one.

      That does not mean the industry has resolved its concerns about AI. It means some of its biggest players would rather help shape the technology than wait to see what it becomes.

      Stability AI is positioning itself for that opening. Rather than focusing solely on general-purpose models, the company is building tools specifically for professional creatives. Its recently launched Stable Audio 3.0 was trained on fully licensed music and lets artists generate, edit and arrange audio through a web platform or directly inside digital audio workstations.

      Image Source: Stability AI

      That licensed-data approach is central to the pitch. The next phase of creative AI will not be decided only by which company produces the most impressive model. It will also depend on which companies can earn the trust of the artists, studios and rights holders whose work gives those models value.

      For its new strategic investors, the round offers more than financial upside. It creates a closer view into how generative AI may change production, a voice in how the tools develop and an opportunity to establish rules before those rules are established for them.

      For Stability AI, the backing provides something equally important: credibility inside industries that have every reason to scrutinize what it is building.

      The company now has capital and access to some of the largest catalogs, franchises and creative workforces in entertainment. What it does with that access will determine whether this becomes a meaningful alliance or simply an impressive collection of logos.

      Either way, the industry is no longer watching from a safe distance.

      It has entered the room.

      LA’s Air-Taxi Plans Are Coming Downtown

      While Stability AI is trying to change how entertainment gets made, Archer Aviation wants to change how people get to it.

      AEG and Archer announced plans to develop downtown Los Angeles’ first vertiport at L.A. LIVE, creating a potential new stop in Archer’s proposed electric air-taxi network ahead of the 2028 Olympic and Paralympic Games.

      Image Source: Archer

      The planned site would sit beside Crypto.com Arena and allow passengers to travel to and from the entertainment district aboard Archer’s Midnight aircraft. The company says its network could turn drives that take an hour or longer into electric flights lasting approximately 10 to 20 minutes.

      Archer has already identified SoFi Stadium, USC and Hollywood Burbank Airport as possible locations, with its recently acquired Hawthorne Airport expected to serve as the network’s central operating hub. As the official air-taxi provider of LA28 and Team USA, Archer has an unusually visible deadline for turning those plans into something tangible.

      AEG and Archer have completed an initial feasibility study of the L.A. LIVE site, including reviews of land use, airspace, power availability and community impact. The next phase will examine operations and the passenger experience.

      There is still a substantial distance between a proposed vertiport and a functioning air-taxi network. The infrastructure must be built, regulatory approvals must be secured and passengers must be persuaded that flying across the city is safer and more practical than staying on the ground.

      Still, few locations could make that future feel more real than L.A. LIVE. Millions of people already pass through the district for concerts, games and major events. Placing a vertiport there would bring urban air mobility out of the concept stage and directly into public view.

      Together, this week’s announcements show Los Angeles becoming a testing ground for two technologies still moving from promise toward everyday use.

      One could reshape how entertainment is created. The other could reshape how Angelenos reach it.

      In a city famous for both its creative industries and its traffic, that feels appropriately on brand.

      More from this week’s LA startup and venture scene below.

      🤝 Venture Deals

        LA Companies

        • Atorie raised a $9.5M seed round from investors including a16z speedrun, Night Capital and Lightspeed Venture Partners’ Jeremy Liew. The AI-powered fashion startup connects consumers directly with luxury manufacturers to offer high-quality goods without traditional designer markups, and will use the funding to expand logistics, production and its AI shopping tools. - learn more
        • Long Beach-based Maglut Heavy Industries emerged from stealth with $3.1M in pre-seed funding from Wave Function, Nova Threshold and Julian Capital. The startup is developing a chromatography-based system to process and refine rare earth elements domestically, with pilot tests producing materials at more than 99.9% purity. - learn more

        LA Venture Funds
        • MANTIS Venture Capital participated in Voya Energy’s $35M Series A, led by Energy Impact Partners and joined by John Doerr, StepStone, Founders Fund, Overmatch and Seven Stars. The Hayward-based startup will use the funding to commercialize its aluminum-fueled generators, which provide clean, off-grid power for data centers and other energy-intensive operations without combustion or local air emissions. - learn more
        • Regeneration.VC participated in eComID’s $17M seed round, led by Systemiq Capital and joined by Course Corrected, Stadium and returning investor CapitalT. The Stockholm-based startup will use the funding to expand internationally and scale its AI-powered Shopping Passport, which helps retailers personalize sizing and product discovery while reducing returns. - learn more
        • Clocktower Technology Ventures participated in Helcim’s $53M Series C, led by BDC Capital’s Growth Venture Fund and joined by new investors Curql Collective and LA-based Gold House Ventures. The Calgary payments company will use the funding to expand its platform, develop additional financial services and serve more small and midsize businesses across North America. - learn more

        LA Exits

        • Altruist agreed to be acquired by Vanguard, giving the Los Angeles-based wealth technology and custody platform greater resources to expand its tools for independent financial advisors. Altruist will continue operating as a standalone business under its existing leadership and brand after the deal closes, which is expected later this year pending regulatory approval; financial terms were not disclosed. - learn more
        • Personality AI has been acquired by WildBrain for approximately $11M in cash and 1M WildBrain shares upfront, with additional payments tied to future performance. The startup develops kid-safe conversational AI experiences for entertainment characters, including “Hey Peppa Pig,” and will help WildBrain expand its franchises into interactive products across toys, apps and digital platforms. - learn more

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          This Torrance Startup Just Raised $1B to Mass-Produce Hypersonic Missiles

          🔦 Spotlight

          Happy Friday, Los Angeles.

          Castelion has spent the past four years trying to prove that hypersonic missiles do not need to take decades to develop or cost so much that the military can only afford a limited supply.

          Now comes the harder part: producing them at scale.

          The Torrance-based defense startup raised a $1B Series C at a $13B valuation. The financing includes $800M in equity and a $250M revolving credit facility, making it one of the largest recent raises for an LA defense technology company.

          JPMorganChase’s Strategic Investment Group, Andreessen Horowitz and Carlyle co-led the round. Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, T. Rowe Price and LA-based Interlagos Capital also participated.

          Castelion will use the capital to ramp production of Blackbeard, its low-cost hypersonic strike missile, while developing a longer-range precision weapon and new defensive systems. Hundreds of millions of dollars will go toward expanding manufacturing at Project Ranger, the company’s 1,000-acre production campus in New Mexico.

          Image Source: Castelion

          Blackbeard was designed in California, will be built in New Mexico and is expected to enter service in 2027. Castelion says it has already secured more than $500M in U.S. military contracts over the past 18 months and moved the missile from a clean-sheet concept to an official program in fewer than four years.

          That timeline is central to Castelion’s pitch. Traditional defense programs are often associated with long development cycles, limited production runs and eye-watering costs. Castelion is applying the rapid testing and vertically integrated manufacturing approach popularized by commercial space companies to weapons production.

          But a $13B valuation changes the standard. Castelion is no longer being judged as a promising startup with an impressive prototype. It is being funded like a company expected to become a major part of the American defense industrial base.

          The question is no longer whether a startup can build a hypersonic missile. It is whether one can manufacture thousands of them without losing the speed, discipline and cost advantages that made it disruptive in the first place.

          For LA’s defense ecosystem, that shift matters. The region has become home to a growing number of companies promising to modernize how America builds critical hardware. Castelion now has the capital, contracts and facilities to show what happens when that promise reaches the factory floor.

          The next test will not be in a pitch deck. It will be in production.

          More from this week’s LA startup and venture scene below.

          🤝 Venture Deals

            LA Companies

            • Long Beach based Ampaire raised a $19M Series B led by DiamondStream Partners, with strategic participation from Alaska Star Ventures and IAGi Ventures, bringing its total funding to $68M. The hybrid-electric aviation company will use the capital to expand flight operations, produce additional Eco Caravan aircraft, advance regulatory certification and scale its manufacturing capabilities. - learn more

            LA Venture Funds
            • SUM Ventures participated in AssistMe’s €6.5M funding round, which was led by CRB Health Tech and Vorwerk Ventures and included several returning investors. The German care technology company will use the capital to expand across Europe, prepare for a U.S. launch and further develop alea, its digital platform for supporting caregivers and improving nursing-home operations. - learn more
            • CIV led Hypercubic’s $5.3M seed round, with participation from Y Combinator, Afore Capital, Pioneer Fund, Multimodal Ventures and several angel investors. The San Francisco startup will use the capital to develop AI agents that can analyze, document and rewrite decades-old COBOL systems, helping enterprises modernize critical mainframe software faster and with less risk. - learn more
            • Plus Capital participated in Wispr Flow’s $280M Series B, led by Menlo Ventures and joined by existing and new investors, valuing the AI voice company at $2B. The funding brings Wispr’s total capital raised to $361M and will support its expansion beyond dictation into meeting tools and proprietary speech technology, including its new Canto model. - learn more
            • Alexandria Venture Investments participated in Leal Therapeutics’ $30M Series A extension alongside new investor Eli Lilly and returning backers including OrbiMed, Newpath Partners and SV Health Investors’ Dementia Discovery Fund. The biotech company will use the funding to advance clinical trials of LTX-001 for schizophrenia and LTX-002 for ALS, with initial schizophrenia trial data expected by year-end. - learn more
            • BroadLight Capital participated in Higgsfield’s $400M Series B, led by DST Global and joined by investors including Goldman Sachs Alternatives, Smash Capital, Fifth Wall and Intel Capital. The AI video and image platform, now valued at $5.4B with $700M in annualized revenue, will use the funding for R&D, global infrastructure, AI hiring and international expansion. - learn more

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