Laiye, a Chinese language clever automation firm, raised $50m in a Collection C+ funding.
The spherical was co-led by the Ping An World Voyager Fund and Shanghai Synthetic Intelligence Trade Fairness Funding Fund with participation from Lightspeed China Companions, Lightspeed Enterprise Companions, Sequoia Capital China and Wu Capital.
The corporate intends to make use of the funds to increase globally and develop merchandise, to reinforce its RPA providing with native AI functionality, compatibility with extra working methods like Linux and Android, deploy on all main cloud platforms, and recruit prime expertise.
Within the final yr, Laiye reached a number of milestones with its revolutionary product choices and quick creating ecosystem. Laiye accelerated its worldwide enlargement regardless of the pandemic and is now serving a rising buyer base that features quite a few Fortune 500 corporations, authorities companies, and small and medium-sized companies (SMBs). Laiye’s annual robotic course of automation (RPA) software program subscription income soared with a powerful 900% year-over-year progress. Its conversational synthetic intelligence (AI) product, Laiye Chatbot, additionally obtained optimistic evaluations from the consumer neighborhood. Laiye achieved optimistic cashflow for its enterprise enterprise and profitability for the chatbot enterprise within the fourth quarter of 2020.
Led by Li Wei, Co-CEO and president, and Wang Guanchun, Chairman and CEO, Laiye has experience in RPA + AI to allow enterprise and other people to appreciate their full potential by optimizing the human-machine collaborative alliance with dynamic, productivity-enhancing digital, low-code “workforce options”.
Core applied sciences embody robotic course of automation (RPA), course of mining, pure language processing (NLP), conversational intelligence, textual content recognition, and picture recognition.
Laiye’s international footprint spans Asia, the US and Europe, with worldwide companions together with Microsoft, Deloitte, KPMG and Digital China. The corporate at the moment has a neighborhood with greater than 400,000 builders and greater than 500 companions, primarily in China. Laiye is now within the technique of broadening their neighborhood exterior China by means of companions similar to RAAS PAL, a robotics and AI answer supplier in Thailand.