RPA+AI Startup Laiye Technology Completes $42M Series C Round
Robotic process automation (RPA) and Artificial Intelligence (AI) startup Laiye Technology announced today that it has completed its Series C financing round of $42 million. This round was led by Lightspeed Venture Partners and their subsidiary Lightspeed China Partners with Cathay Capital and Wu Capital following.
Wang Guanchun, Chairman and CEO of Laiye Technology, said: “This round of financing will be used to recruit the best talents in the industry, including sales and “RPA + AI” technology R & D personnel, and to continue to consolidate Laiye Technology’s business and technical capabilities.”
SEE ALSO: China VC Weekly: With COVID-19 Not Letting Go, Chinese Investors Bet on India and VR
Lu Qun, founding partner of Lightspeed China Partners also made a statement. “As the earliest investor, we have witnessed the rapid growth of the company from the seed round. The management team of Laiye Technology has accumulated a lot of experience in the RPA and AI fields and built the only ‘RPA + AI’ open platform in the industry and the largest developer community,” he said.
Founded in 2015 by former Baidu employees, Laiye Technology works in the fields of robotic process automation (RPA), process mining, natural language processing (NLP), intelligent dialog interaction, computer vision, etc.
In June 2019, Laiye merged with RPA startup company Orson Technology, shortly following which the newly formed business entity completed a B + funding round of $35 million.