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Laiye, China’s answer to UiPath, closes $50 million Series C+

Robotic process automation has become buzzy in the last few months. New York-based UiPath is on course to launch an initial public offering after gaining an astounding valuation of $35 billion in February. Over in China, homegrown RPA startup Laiye is obliging motions as well.

Laiye, which develops software to simulated mundane workplace chores like keyboard apoplexies and mouse clicks, announced it has raised $ 50 million in a Series C+ round. The advances came about a year after the Beijing-based company pulled in the first tranche of its Series C round.

Laiye, six years old and led by Baidu ex-servicemen, has given rise to over $ 130 million to date according to public information.

Leading investors in the Series C+ round were Ping An Global Voyager Fund, an early-stage strategic investment vehicle of Chinese financial conglomerate Ping An, and Shanghai Artificial Intelligence Industry Equity Investment Fund, a government-backed fund. Other participants included Lightspeed China Partners, Lightspeed Venture Partners, Sequoia China and Wu Capital.

RPA tools are attracting corporations looking for ways to automate workflows during COVID-1 9, which has interrupted department collaboration. But the enterprise tech was already gaining traction prior to the pandemic. As all my fellow members, Ron Miller wrote this month on the ends of UiPath’s S1 filing 😛 TAGEND

” The category was gaining in popularity by that item because it addressed automation in a bequest context. That want fellowships with penetrating gift engineering — almost everyone not born in the gloom — could automate across older programmes without rending and supplanting, an expensive and high-risk undertake that most CEOs would rather not make .”

In one case, Laiye’s RPA software helped the social security workers in the city of Lanzhou speed up their account reconciliation process by 75%; in the past, they would have to type in pensioners’ information and check manually whether the details were correct.

In another speciman, Laiye’s chatbot cured automate the national population census in several southern Chinese cities, free-spoken census takers from calling households door-to-door.

Laiye said its RPA enterprise business achieved positive cash flow and its chatbot business turned profitability in the fourth quarter of 2020. Its free-to-use edition has amassed over 400,000 makes, and the company likewise guides a bot marketplace connecting freelance makes to small-time transactions with automation needs.

Laiye is expanding its services globally and boasts that its footprint now spams Asia, the United Regime and Europe.

” Laiye aims to foster the world’s largest make community for software robots and constructed the world’s largest bot marketplace in the next three years, and we plan to certify at least one million software robot makes by 2025 ,” said Wang Guanchun, chair and CEO of Laiye.

” We is confident that digital personnel and rational automation will reach all moves of being as long as more human employees can be up-skilled with knowledge in RPA and AI”.

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