Cyclone Robotics Bags $150 Million in Round C Financing
Cyclone Robotics, a robotic process automation (RPA) company, announced on Monday that it has secured $150 million in Round C financing, which is the largest-ever individual financing round in China’s RPA industry. This round was led by CMC Capital and Goldman Sachs Asset Management, with Lavender Hill Capital Partners, ZWC Partners, V Fund, DCM, Matrix Partners and Source Code Capital acting as co-investors.
According to Cyclone Robotics, after this round of financing, it will continue to bolster its hyper-automation product capabilities and technical strength, with an objective to expand its customer coverage, ranging from small- and medium-sized enterprises. It also endeavors to strengthen its global network and collaborative partnership ecosystem.
Based on its official website, Cyclone Robotics was established in 2015, focusing on providing RPA software and solutions. Cyclone RPA, which is powered by cutting-edge technologies like AI, NLP and others, is a proprietary product independently developed by Cyclone Robotics, aiming to automate customers’ specific business processes.
It is said that the company spends more than 100 million yuan ($15.67 million) on product R&D every year. The technical team comes from UiPath, Microsoft, Amazon, Apple, Tencent and other leading technology companies. In addition, it has also attracted significant high-tech talent from well-known business consulting institutions across the world, such as McKinsey and Accenture.
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At present, its products and solutions have provided services for nearly 1,000 customers around the world, covering multiple industries such as finance, energy, government, public security, manufacturing, retail and e-commerce.
Headquartered in Shanghai, Cyclone Robotics has set up branch offices in dozens of cities in China and other countries, and has set up R&D centers in Silicon Valley, U.S.