China’s work automation startup Laiye raises $160M, acquires France’s Mindsay – TechCrunch

An ambitious Chinese startup wants a slice of the flourishing global work automation market. Laiye, a Beijing-based company that provides a one-stop platform for automating office tasks of varying degrees of complexity, just picked up $160 million from a Series C funding round to expand globally.

Guanchun Wang, Laiye’s founder and CEO, saw the “value of artificial intelligence” in the years he worked at Baidu’s smart speaker department after his film discovery startup was sold to the Chinese search engine giant. At the time, he also realized traditional industries were well underserved compared to the attention that internet platforms like short videos and news apps received from AI entrepreneurs. To fill the gap, he started Laiye in 2015.

Laiye’s Series C financing came in three tranches, with the last one to have recently closed at $70 million, an oversubscribed round led by influential Chinese private equity firm Hopu Magnolia. Other investors include VMS Group from Hong Kong,…

Read Full Story: https://techcrunch.com/2022/04/18/chinas-work-automation-startup-laiye-raises-160m-acquires-frances-mindsay/

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source: https://news.oneseocompany.com/2022/04/18/chinas-work-automation-startup-laiye-raises-160m-acquires-frances-mindsay-techcrunch_2022041818122.html

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