Beijing-based Laiye Raises $50M in Series B Funding

Beijing-based Laiye Raises $50M in Series B Funding

Beijing-based Laiye, a leading provider of AI-driven intelligent automation software and services, has recently announced that it has raised $50 million in a Series B funding round, led by Sequoia Capital China. This funding round brings the total capital raised by Laiye to-date to over $70 million, allowing the company to further expand its platform and continue developing its advanced technology.

Overview of Laiye

Laiye is a Beijing-based company that provides AI-driven intelligent automation software and services. Founded in 2014, the company has quickly become a leader in the field, helping customers automate their business operations and improve their efficiency. The company’s Intelligent Automation Platform (IAP) is used by Fortune 500 companies, including China Unicom, China Mobile, China Construction Bank, and Baidu.

Series B Funding Details

Laiye recently announced that it has raised $50 million in a Series B funding round, led by Sequoia Capital China. Other investors in the round included Tencent, Sinovation Ventures, and Green Pine Capital Partners. This brings the total capital raised by Laiye to-date to over $70 million, allowing the company to further expand its platform and continue developing its advanced technology.

Use of Funds

Laiye plans to use the proceeds from the Series B funding to further expand its Intelligent Automation Platform (IAP). The company plans to add more features to the platform and continue developing its AI technologies. Additionally, the company plans to invest in its research and development team, with the goal of creating new products and services that will help customers automate their business operations and improve their efficiency.

Future Plans

In addition to expanding its platform, Laiye plans to focus on expanding its customer base and increasing its presence in the global market. The company plans to use the funds to hire more talent and build its team, as well as to invest in marketing and sales activities. Laiye also plans to use the funds to increase its investment in research and development, with the goal of creating new products and services that will help customers automate their business operations and improve their efficiency.

Conclusion

The recent Series B funding round of $50 million, led by Sequoia Capital China, brings the total capital raised by Laiye to-date to over $70 million. This funding will allow the company to further expand its platform and continue developing its advanced technology. The company plans to use the proceeds from the funding to further expand its Intelligent Automation Platform (IAP), add more features to the platform, invest in its research and development team, and expand its customer base.

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