Cyclone Robotics, one of the first two Chinese RPA suppliers to be included in Gartner’s magic quadrant for RPA software (along with Laiye), has made a foray into Asia-Pacific, leveraging its bot management and ‘human-in-the-loop’ capabilities.
The company raised nearly $40m in Series B funding in 2020, followed by $150m in Series C funding late last year. It achieved an average annual growth rate of 400% between 2019 and 2021. As Forrester reports that the Asia-Pacific region, and markets in its constituent countries, have been growth engines for RPA in recent years, accounting for about 17% of the global market for RPA services, Cyclone Robotics eyes the APAC market with promising prospects.
According to Bryan Tan, Regional director for APAC at Cyclone Robotics, the company’s revenue in Asia-Pacific markets during its first year of operation outside China has been “conservative”, as it has focused primarily on proof-of-concept projects. Since 2021, the company has established a presence in Singapore, from which it will extend its reach into markets such as Malaysia, Indonesia, the Philippines, Vietnam, Taiwan, and India.