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.
