Cyclone (弘玑) completed a C+ round of financing of about USD 40 million in July. Combined with the USD 150 million C-round financing completed by Cyclone in 2021, the cumulative financing of nearly USD 200 million has set a record for the highest financing scale in the industry.
Founded in 2015, Cyclone is a leading provider of RPA software and solutions in China. The company's self-developed Cyclone RPA hyper automation solution, which integrates advanced technologies such as AI and NLP, can automatically complete specific business processes for customers and achieve cross-industry and cross-organizational digital transformation goals.
The founding team of Cyclone is an early practitioner in the China intelligence automation industry. The team mainly comes from well-known Internet and technology companies such as HP, IBM, Microsoft, Alibaba (阿里巴巴), and iFlytek (科大讯飞).
According to Forrester, by 2025, the global RPA market will reach USD 22.5 billion, of which the RPA service market will be USD 16 billion and the RPA software market will be USD 6.5 billion. North America spends the most on RPA services at 43%, and the EU at 20%. Strong growth in the Asia-Pacific region (excluding Australia and New Zealand) is catching up.
Headquartered in Shanghai, China, Cyclone has established branches and offices in 24 cities around the world, and has set up a research and development center in Silicon Valley, USA. The commercialization map has expanded to markets such as Greater China, Japan, and Southeast Asia.
In addition to Cyclone, several companies are competing in the RPA market, including ShadowBot (影刀), Data Grand (达观数据), ENCOOTECH (云扩科技), and LAIYE (来也科技) in China, and UiPath in the United States, EdgeVerve in India, Blue Prism in the United Kingdom, and Bouygues in France.
China Renaissance (华兴资本) acted as the exclusive financial advisor for this round of financing. Cyclone’s this round of financing will be mainly used for the research and development of AIGA’s enterprise-level products, industry resource integration, and market expansion.