CHINA BRIEF | Microsoft-backed AI startup Laiye completes USD 42 million Series C round

Laiye, an AI company that focuses on enterprise robotic process automation, has secured USD 42 million in Series C financing, co-led by Lightspeed Venture Partners and Lightspeed China Partners, local media 36Kr reported on Monday. Previous investors Cathay Innovation and Wu Capital also participated in the new round.

The fresh capital will be used for talent recruitment to enhance the company’s business and technology capabilities, Laiye’s CEO Wang Guanchun told 36Kr.

Founded in 2015, Laiye develops intelligent robots and other assistant products based on AI technology. Its products have been adopted by various companies including Ctrip and Meituan. Prior to this fundraising round, Laiye has completed four rounds of financing, with Microsoft a lead investor in its Series A in 2016.

36Kr is KrASIA’s parent company. 

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.