The company intends to utilise the new capital to expedite its expansion in APAC, the Americas, and EMEA
Intelligent automation company Laiye closes its Series C round at $160m. (Credit: Jean Martinelle from Pixabay)
Laiye, a China-based intelligent automation company, has raised $160m in a Series C funding round in three tranches, with the third and last closed at $70m.
The latest tranche was co-led by HOPU Magnolia, Youshan Capital, VMS Group, and other private equity firms.
Laiye’s existing shareholders Lightspeed Venture Partners and Lightspeed China Partners also took part in the funding round.
HOPU Magnolia co-head Gunther Hamm said: “HOPU Magnolia is thrilled to partner with Laiye, a leader in Intelligent Automation. We have known and tracked Laiye’s progress closely since it was founded, and have watched it grow from strength to strength serving mid-market and global enterprises.
“It has fully established its business model and is rapidly growing its revenue and customer base.”
Laiye helps its enterprise clients in the insurance, electric power, communications, retail, finance, and healthcare industries to develop end-to-end intelligent automation solutions.
The company’s global customers include Porsche, AstraZeneca, LVMH, Roche Pharmaceuticals, and Johnson & Johnson Medical among others.
Its Chinese customers include China Southern Power Grid, Bank of China, PetroChina, China Unicom, China Construction Bank, China Telecom, and China Mobile.
The close of the Series C funding round for Laiye follows its recent acquisition of Mindsay, a French enterprise conversation artificial intelligence (AI) company, and the setting up of a new research and development (R&D) hub in Paris.
Laiye intends to use the new capital to speed up its expansion in Asia-Pacific (APAC), the Americas, and Europe, Middle East, and Africa (EMEA).
Laiye International CEO Ronen Lamdan said: “At Laiye, we are striving to fulfil our mission of harnessing intelligent automation technology to liberate workers from mundane tasks, enhance workplace efficiency, and transform businesses at speed and scale.
“This latest round of financing will accelerate our business growth and enable us to serve more large enterprises, government organisations, and SMEs across the world.”