CDH leads Series B for China RPA player 1data

Convivialite Ventures, IDG Capital, and Eastern Bell Capital also participated. The fresh capital will support upgrades of universal large language models (LLMs), which 1Data CEO Xiaoyu Bian described as a “huge opportunity” following the launch of OpenAI’s ChatGPT and Baidu’s Ernie Bot.

1Data raised approximately CNY 100m in Series A funding from SIG China in 2020; the round was extended with a CNY 200m commitment the following year from SIG, IDG, Eastern Bell, and Sequoia Capital China, according to AVCJ Research.

The company claims to be a segment leader in fields such as manufacturing, logistics, and wholesale and retail. Its technology can automatically identify and track orders, manage storage, and monitor abnormalities.

RPA has emerged as an attractive niche in China VC, with standout activity in recent years including a USD 160m Series C for Laiye, a USD 150m Series C for Cyclone Robotics, and a USD 100m Series C for Shadowbot. As recently as last month, CDB Capital led a CNY 500m Series C for Zhuhai-based Kingsware Information Technology.

Index Capital served as financial advisor for 1Data's latest funding round.

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• Topics
• Greater China
• Early-stage
• Technology
• CDH Investments Management
• IDG capital
• Eastern Bell Venture Capital
• China