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Testimonials

  • cathay capital innovation« Our open innovation partnership with Cathay Innovation is like a passport to China. It allows us to benefit from their strong local deal flow and to possibly co-invest. The fund is a unique platform for introductions to the best innovative companies and gives us the capacity to do real business development with them. »

    François-Xavier Meyer,
    Vice-president of SEB Alliance

  • cathay capital innovation« A good investor is not only a lubricant and a catalyst for portfolio companies’ activities, but also a close and trustworthy partner on the road to success. Cathay Capital is such an investor! »

    Tingjun YOU,
    Founder and CEO of LUMI

  • cathay capital innovation« We are delighted to have Cathay Capital as partner supporting our global growth. Our strategic visions are perfectly aligned and we are excited to achieve dynamic growth on multiple continents as we develop innovative ergonomic and mounting solutions to satisfy expanding demand for products that improve health, wellness and productivity.  »

    David Fox ,
    CEO of Innovative Office Products

  • cathay capital innovation« The strategic positioning of Cabio is to become an invisible champion of the niche market for high-end food ingredients based on highly effective biological technology. Cathay Capital has extensive resources and practical experience in the cross-border investment field and food industry, which will provide a strong support for Cabio`s development, especially in helping the company’s development on international market. We are confident that together with Cathay Capital, Cabio will be developed into a world-class provider for premium nutrition and food ingredient solutions. »

    Dewei Yi,
    Founder and President of Cabio

  • cathay capital innovation« By acting as a trusted shareholder, Cathay Capital has helped to strengthen mutual understanding and to secure our relationships with French partners. Thanks to Cathay Capital’s valuable role, Suofeiya today represents a real success story, which has successfully completed its IPO and continues to push forward its development with dynamism. »

    Ke Jiansheng,
    Suofeiya

  • cathay capital innovation« The close involvement of the Cathay Capital team with our activities allowed us to pursue our growth at a sustained level and to reach a higher level in terms of our international development, particularly in Asia. »

    Alexandre Crazover,
    Datawords

News

  • L'Oréal invests in global venture capital fund Cathay Innovation to develop beauty tech startups in China Read more

    L'Oréal invests in global venture capital fund Cathay Innovation to develop beauty tech startups in China

     L'Oréal announced today a strategic investment in Cathay Innovation, a global venture capital fund founded to support entrepreneurs engaged in the sustainable transformation of the world through technology. With this transaction, L'Oréal strengthens its connection to the beauty tech startup ecosystem, particularly in China, the group's second largest market and a pioneer in digital innovation. 

    L'Oréal will accompany innovative Chinese beauty tech startups during their growth phase. Entrepreneurs will benefit from L'Oréal and its brands’ expertise to test their innovations and accelerate their development.

    This participation was done through L’Oréal’s corporate venture capital fund BOLD Business Opportunities for L’Oréal Development, launched in December 2018.

    Fabrice Megarbane, President of L'Oréal China, said: "We are delighted to enter this strategic partnership with Cathay Innovation. It will enable us to connect to the dynamic ecosystem of disruptive beauty tech startups in China, a driving force in advanced technology and innovation. Our objective is to help young entrepreneurs by sharing L’Oréal’s expertise and experience in order to co-create the products and services of tomorrow.”

    Mingpo Cai, Founder and President of Cathay Capital, said: "We are thrilled to welcome L'Oréal as an investor in our ecosystem and believe that we will develop together a partnership of exceptional quality. China is a breeding ground for innovation in the new uses of disruptive technology, and in particular in the world of beauty. We will work to identify new emerging trends and collaborate with the most promising startups. Together with L'Oréal teams and visionary Chinese entrepreneurs, we will develop new innovations for consumers in China and the world at large.”

    Launched by Cathay Capital, Cathay Innovation funds early growth startups committed to the sustainable transformation of the world through innovation and technology in sectors ranging from e-commerce and consumer-centric digital platforms to fintech, health, new mobility and all segments of the artificial intelligence space.

    BOLD Business Opportunities for L'Oréal Development is a corporate venture capital fund aiming to take minority stakes in innovative companies and brands with high growth potential. The fund invests in new business models in marketing, R&I, digital, retail, communication, supply chain and packaging and provides startups with L'Oréal's expertise, networking and mentorship.

    About L’Oréal

    L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 26.9 billion euros in 2018 and employs 86,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.

    Research and innovation, and a dedicated research team of 3,993 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain.

    For more information: http://mediaroom.loreal.com/en/

    About Cathay Innovation

    Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital. It was founded around the shared conviction that supporting innovation entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to the sustainable transformation of the world through innovation and technology. Such transformation is accelerated by leveraging Cathay Capital extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai.

    To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.

    “This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our Internet site www.loreal-finance.com.

    This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements.”

    L’Oréal Contacts
    Individual shareholders and market authorities
    Jean Régis CAROF - Tel. : + 33 (0) 147 56 83 02 - jean-regis.carof@loreal.com
    Financial analysts and institutional investors
    Françoise LAUVIN - Tel.: +33 (0) 147 56 86 82 - francoise.lauvin@loreal.com
    Media: Polina HUARD - Tel.: +33 (0) 147 56 87 88 - polina.huard@loreal.com
    Cathay Innovation Contact
    Media: Yoann BESSE - Tel.: +33 (0) 6 63 03 84 91 - yoann.besse@citigatedewerogerson.com

  • DayTwo announces strategic investment by Longliv Ventures, a member of CK Hutchison Holdings Group, Cathay Innovation and by Samsung NEXT Read more

    DayTwo announces strategic investment by Longliv Ventures, a member of CK Hutchison Holdings Group, Cathay Innovation and by Samsung NEXT

    DayTwo, the only microbiome human discovery platform with an actionable product in the market, has announced the addition of Longliv Ventures, a member of CK Hutchison Holdings Group, the global VC partnership Cathay Innovation, and Samsung NEXT as strategic investors and partners.

    Longliv Ventures, Cathay Innovation and Samsung NEXT will participate in the company’s Series B financing. Dr. Dan Eldar, Managing Director at Longliv Ventures, will join the company’s board of directors.

    "DayTwo is the only evidence-based, actionable, microbiome platform in the market today. We are in a privileged position to leverage our first-rate scientific experience, clinical trials in Israel and the United States as well as tens of thousands of customers, and proven business models with providers, employers, and payers," said Lihi Segal, CEO and Founder of DayTwo. "This deep and broad foundation, coupled with the recent financing round, enables DayTwo to address the large and pressing clinical need of diabetes management and to bring food-as-medicine to global markets for people with type 2 and prediabetes. The partnerships with Longliv ventures and Samsung NEXT catalyze DayTwo’s go-to-market initiatives in Europe and Asia”.

    "DayTwo is a pioneering company setting itself to grow and provide value at the intersection of  major health needs, by leveraging an understanding of the human microbiome; by shifting towards personalized medicine and diet, and by providing an effective diabetes management strategy and platform.  In a short period of time, DayTwo was able to bring to market an exciting new approach to nutrition for diabetics, pre-diabetics and wellness seekers, based on findings of ground-breaking research”, said Dr. Dan Eldar, Managing Director of Longliv Ventures.

    Longliv Ventures targets companies that are on a mission to develop and nourish solutions that will augment and eventually revolutionize the way people manage their health and wellness”, said David Gordon, Head of Investments for Longliv Ventures. “Such solutions could benefit from the CK Hutchison Holdings global footprint which includes the A.S. Watson Group, the world’s largest international health and beauty retailer. With a potential reach of 2.4 billion customers via more than 15,200 stores operating under 12 retail brands in 25 markets, and through a world-renowned online sales operation, we can provide early stage companies with a stepping stone to global success."

    “DayTwo is successfully using fused health metrics, expert medical knowledge, and cutting-edge machine-learning algorithms within a competitive business model. We believe this is a winning combination and a promising example of the revolution in healthcare which Cathay Innovation fosters. Artificial Intelligence is and will be reshaping many industries, but the impact of new approaches and technologies is already a reality in Healthcare. In the US for instance, the FDA had been approving deep technology usage for diagnosis and recommendations for over two years. Through our ecosystem of resources, offices and participations in Europe, the US, and China we will make sure people benefit from this increased access to personalized, medical-grade advice,” said Jacky Abitbol, Partner at Cathay Innovation.

    "DayTwo has struck a balance between building the world's largest database for full shotgun sequencing of the gut microbiome while also successfully scaling its first product for the diabetic population. We are proud to have joined DayTwo’s journey to tackle some of the world’s most common diseases with its science-based 'food-as-medicine’ approach,” said Yonatan Machado, Director at Samsung NEXT Ventures.

    DayTwo's food-as-medicine approach is based on the original research conducted by Professors Eran Segal, Ph.D., and Eran Elinav, M.D., Ph.D. at The Weizmann Institute of Science, published in the journal Cell, in 2015. The Cell paper demonstrates how the gut microbiome, in conjunction with other clinical and personal parameters, can enable personalized dietary interventions that can successfully balance post-meal glucose response.

    Founded in 2015, DayTwo has offices in Tel Aviv and San Francisco, with 85 employees.  The company completed the first half of 2019 with tens of thousands of consumers, hundreds of providers in the DayTwo network of clinical professionals, as well as employers and plans that became members of its network. DayTwo also launched a strategic partnership with the world's second largest HMO, Clalit Health Services, which now offers the DayTwo glycemic control solution to its 4.5 million members.

    DayTwo continues to conduct ongoing research with clinical institutional partners including the Weizmann Institute of Science, the Israel Diabetes Association, Joslin Diabetes Center, Janssen, a Pharmaceutical Company of Johnson & Johnson, and the Mayo Clinic.  DayTwo also depends on the counsel of its most respectable scientific advisory board composed of specialists from Tufts School of Nutrition, the University of California, San Francisco, and the Weizmann Institute of Science. DayTwo has published papers based on their science, results and work pioneering food-as-medicine offerings in Cell, Cell Metabolism, Nature, JAMA, and the American Journal of Clinical Nutrition.

    About DayTwo

    DayTwo's microbiome platform is built upon the largest full-shotgun database of gut-microbiome profiles worldwide. Professors Eran Segal, who holds a Ph.D. in Computer Science and Genetics from Stanford University, and Immunologist Eran Elinav, M.D., Ph.D. at The Weizmann Institute of Science in Israel. Founded in 2015, DayTwo has raised $48 million to date from aMoon, Ofek Ventures, Seventure Partners, the Mayo Clinic, Johnson & Johnson, and Marius Nacht. DayTwo has offices in Tel Aviv, Israel and San Francisco Bay Area.

    For more information about DayTwo, visit https://www.daytwo.com/

    About Longliv Ventures:

    Established in 2018, Longliv Ventures L.P. (“Longliv Ventures”) is a consumer oriented digital health fund that focuses on investments in early stage ventures that seek to address significant health and wellness issues capable of producing global impact.  Longliv Ventures is a member of CK Hutchison Holdings Group ("CKHH"). With over 300,000 employees in over 50 countries across the world, CKHH is among the largest companies listed on the main board of the Hong Kong Stock Exchange. The Group has a pivotal role in healthcare through its A.S. Watson Division, the world’s largest international Health and Beauty retailer with over 15,200 stores in 25 markets in Europe and Asia – from Germany, the United Kingdom and Russia to China, Hong Kong, Indonesia and the Philippines. Among its world-renowned brands are Superdrug, Rossmann, Kruidvat and Watsons.

    With a potential reach to 2.4 billion customers and with connection to more than 130 million loyalty members and a world-renowned online sales operation, Longliv Ventures can provide early stage companies with a stepping stone to global success. Examples of domains of interest include point-of-care diagnostics and home testing, chronic condition management, treatment adherence, tele-medicine, pregnancy monitoring and allergen detection.

    About Cathay Innovation:

    Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital. It was founded around the shared conviction that supporting innovation entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai.

    To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov

    About Samsung NEXT:

    Samsung NEXT builds, grows and scales transformative software and services to complement Samsung’s global hardware footprint. A leading driver of Samsung's transformation into an integrated hardware and software company, Samsung NEXT combines product development, investment, M&A and partnerships under one roof. If you have an idea, we can help you turn it into a product. If you have a product, we can help you build and grow it. And if you are ready, we can help you scale.

  • iziwork becomes the leading temporary staffing platform in France and raises 12 million euros, 1 year after its launch Read more

    iziwork becomes the leading temporary staffing platform in France and raises 12 million euros, 1 year after its launch

    Paris, October 1st, 2019 - One year after its commercial launch, the worker-centric temporary staffing marketplace iziwork announces a EUR 12 million Series A funding round with the global venture capital fund Cathay Innovation, and its early investor Global Founders Capital. This brings to EUR 20 million the total amount invested in the JobTech startup which leverages data and technological innovation to positively transform the way candidates and employers experience temporary work and increase labor market liquidity.

    Founded on September 3rd, 2018 by Mehdi Tahri and Alexandre Dardy, two Amazon and Alibaba alumni, iziwork has become, thanks to its scalable digital marketplace model, the digital leader of temporary employment in France with 200,000 temporary workers and more than 200 enterprise clients in about 100 cities.

    This fundraising will enable the company to double its technology investments and accelerate its commercial deployment across France. The Paris-based startup, which already counts 120 employees, plans to double its team over the next 12 months.

    A disintermediated "marketplace" model to better serve temporary workers and employers

    iziwork has adapted best practices from leading e-commerce marketplaces, to radically improve the way workers access and experience temporary work, and to offer employers from large enterprises and SMBs, a better quality of service at a lower cost.

    The platform offers its corporate clients immediate access to the 200,000 "iziworkers" through its app. In addition, iziwork enable its clients to reach more than 500,000 job seekers, on social networks, job boards, and through local partners such as public employment agencies.

    The disintermediation of temporary labor that iziwork is undertaking through its digital marketplace model and the automation of low value administrative tasks, benefits both companies and workers. iziwork’s lower cost structure results in significantly lower prices than traditional agencies for its corporate clients, enabling temporary workers to seize more job opportunities. 

    To better attract and retain temporary workers, iziwork empowers them with tools that enable them to take control over their careers. As their employer of reference, iziwork also provides a caring and meritocratic environment where their reliability at work is rewarded with several advantages. In addition, the platform supports workers in their professional development through personalized mission & training for their career paths.

    "Temporary workers are at the core of iziwork’s model. We want to transform their experience of temporary work not only with a convenient instant access to a large number of job offers on the application, but also well beyond their shifts with a full range of services that make their daily lives easier and allow them to focus on their work. For example, an "iziworker" can earn 800 euros per year in performance-based bonuses through our superworker loyalty program, access a loan at only one euro per month to finance their projects, or benefit from free trainings leading to better paid jobs. It is by attracting and retaining the best workers that we are able to offer our customers a unique quality of service." Mehdi Tahri - Co-Founder of iziwork.

     "Across the world, technological platforms are transforming Human Resources, the way in which employees manage their careers and how companies handle recruitments. This topic is one of Cathay Innovation’s favored investment themes; as illustrated by our investment in IfChange (the leading data driven recruitment platform in China) and our recently announced investment Terminal, the San Francisco platform dedicated to the building of remote engineers teams. Furthermore, we pay close attention to the fact that Iziwork solutions have a very positive impact on society. With this global vision in mind, we were enthralled by the quality of the team and platform developed by Mehdi and Alexandre, and impressed to see that Iziwork appears as the startup having since its launch the fastest growing revenues we have ever seen in France!" Jacky Abitbol - Partner at Cathay Innovation

    On the customer side: iziwork’s quality of service

    • 95% of positions filled in less than 4 hours
    • 30% reduction in customer turnover
    • 10% to 30% savings on the cost of temporary work on an equal pay basis

    About iziwork’s founders

    Mehdi Tahri - After working at McKinsey & Company for 5 years, Mehdi joined Amazon where he managed the European Retail Scaling program improving efficiency through leaner processes, automation and machine learning.

    Alexandre Dardy - After 9 years at McKinsey & Company as Associate Partner, Alexandre joined Lazada’s co-founding team in 2013 and became CEO Vietnam until the Alibaba Group acquired it in 2018 (for more than 3 billion dollars).

    About Cathay Innovation

    Cathay Innovation is a global venture capital partnership, created in affiliation with Cathay Capital. It was founded around the shared conviction that supporting innovation entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai.

    To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov

    About Global Founders Capital
    Global Founders Capital has been supporting entrepreneurs around the world for several years. Our teams of operators and entrepreneurs offer unique expertise and support in the technology sector. Over the past 20 years, we have contributed to the growth of more than 500 companies around the world. Facebook, Linkedin, Zalando, Lazada, Traveloka, Trivago, Jumia, Away Travel, HelloFresh, Eventbrite, Funding Circle, Slack, Revolut, Canva, Meero form a non-exhaustive list of our successes.

    Global Founders Capital manages more than $1.2 billion in capital and has 11 offices around the world.

    https://www.globalfounders.vc

  • Medifa healthcare welcomes Cathay Capital to accelerate its international growth Read more

    Medifa healthcare welcomes Cathay Capital to accelerate its international growth

    On July 24th 2019, Cathay Capital, a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in Europe, North America, and China, acquired a minority share in medifa healthcare group, a global designer and manufacturer of turnkey modular operating room (“OR”) systems, mobile OR tables and accessories for operating theatres and other sanitized facilities as well as high-end medical stainless steel components. With approximately EUR 3 billion in assets under management and branches in Paris, Munich, New York, San Francisco, Shanghai and Beijing, Cathay will support the international growth of medifa healthcare group GmbH thanks to its extensive network as well as in-depth experience in buy-and-build strategies. The management team of the medifa group remains unchanged.

    "Since taking over the production unit of the world leading producer of operating tables in 2015, and the acquisition of medifa KG in Finnentrop in 2017, the medifa healthcare group has experienced enormous growth. As the market for medical equipment continues its globalization, we too will spread our international presence whilst adding innovative products to our offering. With Cathay Capital’s support, the medifa group is perfectly positioned to realize its growth strategy", explains Dr. Wolfgang Hohnhaus, Managing Partner of the medifa healthcare group.

    "medifa is already an internationally successful company with state-of-the-art products and the most competitive offering on its segment. We intend to strengthen the brand sustainably by expanding the company’s international footprint as well as extending its activities and product portfolio by seizing M&A opportunities. Cathay will leverage its know-how, ecosystem, and global setup simultaneously, especially in China, to accelerate medifa’s international development, grow its client portfolio and support the company’s objective of expanding its global leadership through close collaborations between our respective local resources", says Ming-Po Cai, Founder and President of Cathay Capital. As of now, the co-operation will be managed by Cathay’s German team in Munich.

    "Cathay Capital’s network is a valuable building block for us to successfully strengthen our participation in the medical technology sector. We are very much looking forward to the new opportunities arising from the close cooperation with partners, customers and the entire Cathay team," explains Christian Keller, Managing Partner of medifa healthcare group GmbH.

    The medifa Healthcare Group employs around 350 people at three locations in Germany. Planning, engineering and production are done 100% in-house, exclusively in Germany. In addition, more than 90% of value-add are accomplished within the group, ensuring short reaction times to satisfy flexible customer demand.

    Under the motto "we care", medifa® understands the consistent orientation towards customer needs. On a global basis, medifa’s customers can rely on first-class consulting and services, product delivery and project execution as well as quality and performance from one single source "Made in Germany" in accordance with certified national and international quality standards.

    ***

    Media Contacts

    medifa Communication                                                Cathay Capital

    Marianne Rohrmoser                                                   Yoann Besse

    Head of Marketing                                                         Yoann.besse@citigatedewerogerson.com

    m.rohrmoser@medifa.com                                       +33 (0)6 63 03 84 91

    +49 (0) 151 67116 031

    ***

    Sellers and acquirers

    medifa Healthcare Group: Dr. Wolfgang Hohnhaus, Christian Keller

    Cathay Capital: Jérémie Falzone, Ralph Karg, Steffen Prochazka

    Sell-side advisors

    Financial Advisor – Quarton, a Cowen Company: Dr. Konstantin Schönborn, Dr. Lars Veit, Anette Cooper, Dr. Uwe Lenk

    Legal – Milbank & Partners: Dr. Martin Erhardt, Dr. Michael Pujol, Lucas Kleinschmitt

    Buy-side advisors

    Financial & Tax Due Diligence – PwC: Stefan Saalfrank, Christian Tempich, Stefanie Tielemann, Thomas Kelly, Stefan Dellinger

    Commercial & Strategic Due Diligence – Roland Berger: Oliver Rong, Christopher Huth, Julien Gautier, Charles Colrat, Yifei Lin, Thibault Dussueil, Emma Bethouart, Artur Kazak

    Legal & Structuring – Allen & Overy: Dominik Stühler, Dr. Kai Terstiege, Tobias Hoppe, Elisabeth Pichler

    About medifa healthcare group

    The medifa healthcare group (or “the Company”) is a globally active designer and manufacturer of modular operating room (“OR”) systems, mobile OR tables and accessories applied in turnkey operating theatres and other facilities requiring clean rooms as well as high end medical stainless steel components. The company successfully transformed from contract manufacturer towards mobile OR equipment and infrastructure solutions provider via targeted buy-and-build as basis to position as “One-Stop-Shop” towards end-customers. medifa applies a highly defensible business model given long-term key supplier positioning and high brand awareness among end-users for its quality and durable products. Its product and service portfolio cover the complete range of modular wall, door and ceiling systems (RooSy®: Room Systems), mobile operating tables and accessories, as well as examination chairs for gynecology, urology and proctology. In addition, one of the largest German OEM suppliers in the medical technology sector also belongs to the group. The Company’s geographical footprint is built on three production facilities in Germany and global direct and indirect distribution network. medifa is expected to generate € ~46m sales in 2019 with ~350 employees. More information at: www.medifa.com

    About Cathay Capital

    Cathay Capital Private Equity is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. The firm's team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich and San Francisco and leverages its unique business model and platform to create value for companies across three continents. With more than €2.8 billion in assets under management, Cathay Capital Private Equity has completed over 100 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries. For more information, please visit www.cathay.fr

  • Laiye Technology Launches UiBot to Enter RPA Market, Closing Series B+ with $35M Read more

    Laiye Technology Launches UiBot to Enter RPA Market, Closing Series B+ with $35M

    Beijing, June 27, 2019

    Laiye announces that it has closed its Series B+ financing round with US$35 million led by Cathay Innovation. Existing investors, Wu Capital and Lightspeed China Partners (LCP) also participated in this round. Laiye also launched its RPA product line UiBot from its earlier merger with Awesome Technology to charge into the RPA+AI market.

    “Digital workforce will be part of every enterprise, while Robotic Process Automation (RPA) will serve as the infrastructure for automation and artificial intelligence (AI) applications. The core team behind UiBot has unparalleled product development and operational experience in RPA and has built the largest RPA community in China in the past 18 years,”Guanchun Wang, Chairman and CEO of Laiye said, adding that “The synergy between Laiye’s existing AI capabilities, including our chatbot platform product Wulai, and UiBot will allow customers to build bots with both brains and hands so as to significantly improve operational efficiency and reduce labor costs.”

    “After launching UiBot in January this year, we have amassed over 300,000 downloads and 6,000 registered enterprise users. Now we are working with Laiye to build the world’s leading RPA+AI platform. It will surely be an exciting entrepreneurial journey,” according to Li Wei, former CEO of Uibot and now co-CEO & President of Laiye.

    The lead investor of this round, Cathay Innovation, also known as a unique global cross-border investment platform, is committed to supporting visionary entrepreneurs and their executive teams. “I am very positive about Laiye’s vision and technological innovation. I believe that Laiye’s bot platforms and applications will play a significant role in the age of AI transformation for every enterprise. Cathay Innovation will continue to promote collaboration between the fund’s global strategic investor base and Laiye,” Denis Barrier, Co-founder and CEO of Cathay Innovation, said.

    Wu Capital, a family office fund that led Laiye's B round, has been paying close attention to Laiye’s leading role in the digital transformation of traditional industries. “We are pleased to see that Laiye has been continuously expanding their customer base and product innovation with their innovative technology. Smart bots are really starting to improve the efficiency of customer and sales management,” said Rita Zhang, CEO of Wu Capital.

    As the founding partner of Lightspeed China, James Mi has been a backer of Laiye in every financing round since Pre-A and has witnessed the rapid evolution of the team. He said, “It's a pleasure to see that Laiye continues to attract world-class talents to join its forces. This strong combination of RPA and AI will greatly enhance Laiye's enterprise bot product and solution offerings. I believe that the team's steady efforts in expanding its product lines and services will surely be recognized by the market.”

    Dr. Hsiao-Wuen Hon, Corporate Vice President of Microsoft, Chairman of Microsoft’s Asia-Pacific R&D Group, and Managing Director of Microsoft Research Asia, also affirms the success and reputation of Laiye as a valued Azure partner in chatbots and foresees the possibility of a deeper collaboration between Laiye and Microsoft in the space of RPA+AI.

    It is reported that Laiye’s $35M B+ Round Financing is by far the largest in China’s RPA+AI market. The funds obtained will be mainly used for recruiting talents for the R&D and sales of RPA products. The company will also expand its AI capabilities beyond natural language processing, deep learning, and reinforcement learning, and accelerate the commercialization of smart-robot solutions across industries. The whole team at Laiye firmly believes that RPA+AI will help every enterprise realize the potential of human-machine collaboration in this age of artificial intelligence and help each employee to expand their capabilities and improve efficiency, so that the human creativity and innovation can be further unleashed.

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