China Digest: AI firm Laiye bags $42m; Trustbridge unit puts $28m in Xband
Summary
Beijing-headquartered artificial intelligence & automation technology firm Beijing Laiye Technology has raised $42 million in its Series C round led by US multi-stage venture capital firm Lightspeed Venture Partners and Lightspeed China Partner’s sub-fund, according to a company statement on Monday. Laiye is an AI interactive platform offering intelligent robotic automation solutions for enterprises. Xband, a rural tourism solutions provider, has collected 200 million yuan ($28 million) in its Series B funding round from TBP Country Living Holdings (HK) Limited, an investment vehicle of China-focused private equity fund Trustbridge Partners. Its brands include boutique bed and breakfast unit Orieco Club, parent-child education park Green Joy, countryside paradise Ideal Village, and planning design studio Zhuhengxuan. Established in 2006, Trustbridge Partners is a private equity firm active in TMT, consumer, education, internet, cultural tourism and healthcare industries in China.