DataGrand Raises $90M in Series C Financing

DataGrand, a Shangai, China-based AI and RPA vendor, completed a $90m (RMB 580m) Series C financing.

Backers included CITIC Securities, CMS Securities, GF Securities, CSC Securities, as well as investment firms such as SCGC, Hundreds Capital, Xiang He Capital, Legend Star and Sunshine Insurance Group.

The company will use the fund to strengthen its lead advantage in Intelligent RPA, and accelerate technical innovation and industrial application of its core products and solutions, such as Natural Language Processing(NLP), Optical Character Recognition (OCR), Knowledge Graph, Intelligent Recommendations and Hyperautomation.

Founded in 2015, DataGrand provided a system which combines RPA (Robotic Process Automation) with IDP (Intelligent Document Process), which has been applied to intelligent office scenarios in enterprises such as contract review, data search and recommendation, automatic reporting, text analysis, etc., creating value for many Fortune 500’s “smart office”.