(Yicai Global) Feb. 27 -- The Covid-19 epidemic will enhance Laiye Network Technology's long-term future outlook amid the rise of digital offices, according to the Chinese chatbot startup that just secured USD42 million in its C round funding.
Although the outbreak has caused short-term cash flow pressures, the firm has used the opportunity to develop bots that ease epidemic prevention and control, Wang Guanchun, founder and chief executive officer of the Beijing-based company told Yicai Global in an interview.
China's robot market is expected to expand rapidly in the second half of this year amid the government's stimulus, rebounding post-virus demand, and widening fifth-generation wireless network usage, according to Chinese research agency MIR Databank. The sector's full-year growth should come in at 5 percent, it added.
Laiye will use its C Series proceeds to recruit new talent and boost the use of its Robotic Process Automation technologies, according to the CEO. California-headquartered LightSpeed Venture Partners led the round that was also participated by Cathay Capital and Wu Capital.
Founded in 2015, Laiye has raised USD81 million in total, according to Crunchbase. Last June, the firm merged with RPA developer UiBot.
Editor: Dou Shicong, Emmi Laine