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Sequoia-Backed Chinese Automation Startup Discusses Funding at $1 Billion Valuation

November 3, 2021
Source: theinformation.com theinformation.com
News Snapshot:
Laiye, a Chinese developer of automation software, is in talks with current and potential new investors to raise between $100 million to $150 million, according to two people familiar with the discussions, as China’s shrinking workforce pushes wages higher and creates opportunities for startups that automate manufacturing and back-office tasks. The funding talks, which include existing investors Sequoia Capital China, Lightspeed China Partners and Ping An Insurance, could value the six-year-old company at around $1 billion, roughly double its paper valuation from April, these people said.
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Tags: automation | capital | China | Chinese | developer | insurance | Lightspeed | Lightspeed China Partners | manufacturing | Office | Ping An | Sequoia Capital | Software | startup

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