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Sequoia Capital China partner Neil Shen, who has backed Laiye and other automation software startups in China. Photo by Bloomberg

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

By  |  Nov. 2, 2021 11:07 AM PDT
Photo: Sequoia Capital China partner Neil Shen, who has backed Laiye and other automation software startups in China. Photo by Bloomberg

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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