China's AI robot tech firm Laiye bags $50m in Series C+ round
Summary
Chinese robotic process automation startup Beijing Laiye Technology has pocketed a total of $50 million in its Series C+ round co-led by Ping An Global Voyager Fund, a sub-fund of Ping An Group, and Shanghai Artificial Intelligence Industry Equity Investment Fund. Since its inception in 2015, Laiye has served the sectors of finance, power, manufacture, telecom, retail, and healthcare. In the statement, Laiye revealed that its annual robotics process automation (RPA) software subscription revenue posted 900% year-on-year growth. “This round of funding will be primarily applied towards global expansion and product development to help businesses achieve end-to-end intelligent automation. Laiye is looking to ramp up efforts across Asia, the US and Europe primarily through partnerships with international groups such as Microsoft and Digital China.