Top Lucrative RPA Funding in 2021 for Industry 4.0
Global Tech Outlook explores some lucrative RPA funding in 2021 for Industry 4.0
Robotic Process Automation or RPA is emerging as a software technology to make the whole process easy in deploying and managing software robots. It is becoming popular for streamlining enterprises operations and reducing operating costs with intelligent automation, machine learning, and artificial intelligence tools. The global RPA market is estimated to hit US$13.74 billion in 2028 with a CAGR of 32.8%. Thus, there is an increase in RPA funding in 2021 to enhance product R&D for the tech-driven future. Rich investors are participating in RPA funding events to invest in Robotic Process Automation start-ups and companies for a better future. Let’s explore some of the top lucrative RPA funding in 2021 for a tech-driven future in Industry 4.0.
Top lucrative RPA funding in 2021 for Industry 4.0
UiPath is well known for its RPA platform and has received one of the top lucrative RPA funding in 2021 worth US$750 million in Series F funding in January. Investors include Alkeon Capital, Coatue, Altimeter Capital, Dragoneer, IVP, Tiger Global, and many more. The mission is to unlock human creativity and ingenuity by allowing fully automated enterprise as well as empowering workers through automation in Industry 4.0.
Gryps is known as an RPA platform specialized in construction. It has secured an RPA funding of US$1.5 million in March 2021. The aim is to spend the funding on supporting product R&D as well as recruiting engineers for a better future in RPA. It connects to email, project management database, and other systems to automatically organize documents in the construction process for Industry 4.0. The documents include manuals, change orders, invoices, contracts, and many more. It employs APIs as well as digital robots to process these documents efficiently and effectively.
WorkFusion has successfully locked US$220 million in March 2021 as an RPA platform. It will spend this Robotic Process Automation funding on automating repetitive enterprise backend processes and customer acquisitions to expand the workforce. It develops the concept of intelligent automation to augment business processes with industry-specific automation solutions for Industry 4.0.
Infinitus has secured an RPA funding worth US$21.4 million in Series A funding from investors such as Kleiner Perkins and Coatue, Gradient Ventures, Quiet Capital, Firebolt Ventures, and Tau Ventures in February 2021. This RPA company is focused to address the healthcare sector, especially the US privatized market because the whole process is highly time-consuming. It utilizes Voice RPA to become a machine-generated voice to make calls, follow-up, and provide clearance for multiple payments.
ElectroNeek is known as a popular RPA platform for managed service providers and IT teams. It has secured a RPA funding in May 2021 worth US$20 million in Series A funding led by Baring Vostok. It will spend this Robotic Process Automation funding on product R&D and expanding the engineering workforce with high-quality and professional team. ElectroNeek offers software products to automate regular and mundane IT duties to reduce workloads efficiently in Industry 4.0.
Being a software automation start-up and an open-source RPA vendor, Robocorp has raised US$21 million in Series A funding in June 2021. The focus is on spending this Robotic Process Automation funding on the fast-growing RPA market. It provides technology to automate manual processes while operating on a consumption-based pricing model.
Leapwork is known as an RPA start-up that has raised an RPA funding in 2021 worth US$62 million in August in Series B funding from investors like KKR and Salesforce. It is a no-code automation platform that leverages RPA to maintain and scale workflows efficiently in Industry 4.0. It will utilize the Robotic Process Automation funding in recruiting new full-time highly professional employees to expand product R&D.