Intelligent automation company Laiye announced Tuesday its completion of round-C financing totaling $160 million, following the latest tranche of $70 million led by HOPU Magnolia. Other investors include VMS Group and Youshan Capital, with existing investors such as Lightspeed China Partners and US-based Lightspeed Venture Partners also participating in this round.
The funds will reportedly be used mainly to expand its global market, conduct in-depth research of intelligent automation platforms, and strengthen the construction of global developer ecology and partner ecology.
Founded in 2015, the company first made intelligent assistant products and services with self-operated modes, also launching a robot named “Xiaolai.” At the beginning of 2017, it launched the “Wulai” dialogue robot platform for enterprise customers, which is applied in retail, business travel, education, finance and other industries.
In the past three years, Laiye’s revenue has maintained high-speed growth of 120%, and has served more than 200 top-500 enterprises, more than 200 governmental departments and thousands of small and medium-sized enterprises, covering power, banking, insurance, communication, retail and other industries.
At the same time, Laiye has set up an overseas team of more than 100 people, distributed across 15 countries in Southeast Asia, Europe and the Americas. It recently acquired Mindsay, a French dialogue AI startup, to establish a brand-new European R&D center in Paris. Laiye is also committed to copying the successful experience of over 600,000 partner communities in China to all parts of the world, so that more enterprises can enjoy the benefits brought by the intelligent automation platform.
Wang Guanchun, Chairman and CEO of Laiye said: “Laiye has made great strides in expanding its success in China to the Asia Pacific, the Americas and EMEA. We decided to take the European market as the base to make key breakthroughs for large enterprises. It is estimated that in 2025, more than half of Laiye’s revenue will come from overseas markets.”
The latest developments and technical updates regarding Laiye’s intelligent automation platform will be disclosed in detail at the “LAIYE LEAD” product launch conference on April 26.