Laiye, a Beijing, China-based intelligent automation company, closed its $160m Series C funding round with the latest tranche at $70m.
The round was led by HOPU Magnolia, with participation from VMS Group and Youshan Capital, as well as existing investors such as Lightspeed China Partners and US-based Lightspeed Venture Partners.
The company intends to use the funds to accelerate international expansion in APAC, the Americas and EMEA and grow its team.
Led by Guanchun Wang, Chairman and CEO, Laiye focuses on enterprise customers in the insurance, communications, electric power, finance, retail, and healthcare industries to build end-to-end Intelligent Automation solutions. Global customers include Porsche, LVMH, AstraZeneca, Johnson & Johnson Medical, and Roche Pharmaceuticals. Already a market leader in China, the company provides Intelligent Automation solutions to Chinese companies such as China Southern Power Grid, PetroChina, Bank of China, China Construction Bank, China Unicom, China Mobile, and China Telecom.
This funding round follows Laiye’s recent acquisition of Paris-based Mindsay, a European enterprise conversation AI firm, and the establishment of a new R&D hub in Paris.
Over the past 12 months, Laiye more than doubled its team outside China to 100+ employees, about 15% of the total workforce, grew its partner network to 600+ strong and fostered its intelligent automation developer community of more than 600,000 registered users globally.