Robotic process automation (RPA) services startup Laiye has secured $42 million in the latest round of Series C funding. The Chinese firm offers RPA services to several major tech firms in the nation and government agencies. The raised capital will be used to scale its business. The funding round was co-led by Lightspeed Venture Partners and Lightspeed China Partners.

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Cathay Innovation and Wu Capital also participated in the new round. RPA will achieve its full potential when it combines AI and the best human talent, Arvid Wang, co-founder, and co-chief executive of Laiye told Tech Crunch.

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Source: https://techcrunch.com/2020/02/23/lightspeed-leads-laiyes-42m-round-to-bet-on-chinese-enterprise-it/