China’s Laiye Bags $50 Million in New Funding to Develop Robotic Automation Tech

China’s Laiye Raises $ 50 Million in New Funding to Develop Robotic Automation Tech

Laiye, a Chinese language developer of RPA (Robotic Course of Automation) programs, raised $ 50 million in its C + funding spherical led by Ping An World Voyager Fund and Shanghai Synthetic Intelligence Trade Fairness Funding Fund, which is the Reflecting rising investor curiosity in a expertise to extend productiveness within the office.

Different buyers had been Lightspeed China Companions, Sequoia Capital China and Wu Capital, Laiye introduced in a WeChat put up on Wednesday.

RPA programs are used to imitate tedious and repetitive duties within the office akin to keystrokes and mouse clicks, and assist corporations cut back labor prices and human error. The usage of RPA instruments skilled a growth throughout the Covid-19 pandemic as a rising variety of corporations seemed for tactics to automate their workflow.

Based on Laiye, the capital raised within the new spherical might be used for international enlargement, recruiting expertise, creating synthetic intelligence applied sciences and deploying new cellular merchandise.

Beijing-based Laiye introduced that RPA software program service subscription income elevated 900% 12 months over 12 months in 2020. Within the remaining quarter of the 12 months, the company enterprise posted optimistic money movement whereas the chatbot enterprise posted a revenue for the quarter.

Based in 2015, Laiye serves corporations in a wide range of industries, from finance and manufacturing to telecommunications and retail, clever robotic automation merchandise, pure language processing, dialogue administration and contextual suggestions. In 2019, Laiye launched an RPA platform known as UiBot, which it claims may help corporations enhance operational and administration effectivity and cut back labor prices.

CEO Wang Guanchun stated Laiye plans to build up 1 million licensed software program robotic builders by 2025 as the corporate expands its companies worldwide. Laiye at the moment has an area crew in Singapore made up of consultants who’ve labored for expertise giants akin to Microsoft, IBM and Oracle.

Contact reporter Ding Yi ([email protected])

Associated: Chinese language AI firm Laiye secures a $ 42 million Collection C financing spherical

Source link

Leave a Comment