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Tag: uipath

  • EmailTree AI, a solution to increase e-mail productivity, available on UiPath Marketplace

    EmailTree AI, a solution to increase e-mail productivity, available on UiPath Marketplace

    EmailTree AI, a Romanian end-to-end solution that automates e-mail composition and reduces the response time to e-mails, has been added to UiPath Marketplace.

    The e-mail technology was listed on the UiPath Marketplace in March 2021.

    EmailTree AI is an end-to-end solution launched in 2019 that increases e-mail (text requests) productivity, automates the composition of texts, and generates automatic actions in databases.

    EmailTree uses NLP (Natural Language Processing), NLU (Natural Language Understanding), AI (Artificial Intelligence), ML (Machine Learning), and RPA (Robotic Process Automation) technologies.

    The company with offices in Luxembourg, Sibiu, Timisoara, and Paris has clients in various fields such as telecommunications, e-commerce, utilities, automotive.

    Some of the EmailTree AI clients are Orange Luxembourg, EDF, Webhelp.

    EmailTree AI can be used in many languages, including Romanian, English, German. The solution is mainly used by e-commerce platforms or customer service providers.

    UiPath Marketplace was launched in 2018 as an answer to the UiPath Community’s need for a space to share knowledge via an open exchange of reusable RPA components.

  • UiPath submitted the documentation for an IPO on the New York Stock Exchange

    UiPath submitted the documentation for an IPO on the New York Stock Exchange

    UiPath, the first Romanian unicorn, submitted on Friday the documentation for an initial public offering (IPO) on the New York Stock Exchange.

    Under the ”PATH” symbol, the company aims to get a billion dollars, although the value of the amount will probably change, MarketWatch and Reuters reported.

    A group of 22 banks, led by Morgan Stanley and JP Morgan, subscribe to the transaction.

    The earnings from NYSE listing will be used for corporate purposes, which could include acquisitions, the New York-based company said.

    UiPath reported a loss of $ 92.40 million in 2020, lower than the previous year’s loss of $ 519.90 million.

    Revenue rose to $ 607.60 million from $ 336.2 million.

  • KPMG and UiPath to develop and deliver intelligent automation solutions

    KPMG and UiPath to develop and deliver intelligent automation solutions

    KPMG Romania has partnered with UiPath to jointly develop and deliver intelligent automation solutions to clients.

    Together, these companies will enable organizations to achieve business-wide digital transformation, leveraging emerging technologies to transform operating models, to innovate to remain competitive, and to reimagine the customer experience.

    The partnership represents the next stage in RPA collaboration between both firms, with a focus on implementing and managing large-scale, transformational digital programs.

    KPMG in Romania’s expertise in consulting and implementation will build on the capability, agility, and scalability advantages inherent in UiPath’s robust end-to-end automation platform. 

  • UiPath submitted the documentation for an initial public offering

    UiPath submitted the documentation for an initial public offering

    UiPath announced that it has submitted the documentation for an initial public offering (IPO), an operation at the end of which it could be valued at over 20 billion dollars, Bloomberg reports.

    UiPath said the size and price of the IPO had not yet been scheduled. However, sources quoted by Bloomberg say that the initial public offering could take place in the first half of next year.

    Investors in UiPath include Accel, Sequoia Capital, Coatue Management, Tiger Global Management LLC and Tencent Holdings Ltd.

    Founded in Romania in 2005, under the name DeskOver and renamed UiPath in 2015, the company has among its entities entities such as the CIA, the US Navy, McDonald’s, Duracell and Swiss Re.

    The company had revenues of $ 360 million last year, after helping some of the largest US companies to automate their routine processes.

    In July this year, UiPath announced that it was valued at $ 10.2 billion, after a new round of funding worth $ 225 million.

  • Connections launched Tudor, the virtual accounting robot

    Connections launched Tudor, the virtual accounting robot

    Romanian startup Connections has launched Tudor application, the virtual accounting robot, developed using UiPath technology.

    Tudor Contabot was designed to perform the tasks of a junior accountant.

    Specifically, it processes timesheets, generates payroll statements and sends them by email, generates POs for income taxes, generates 112 statements, submits/signs/receives receipts for tax returns, imports invoices issued by the accounting firm in the account of customer companies, enters invoices based on previous pieces of information in Excel, prints the monthly documents, generates reports at the end of the month.

    Tudor, the virtual accounting robot, is GDPR compliant and operates on a subscription basis.

    The contabot was developed in six months by the Connections RPA team, and the investment has already exceeded 70.000 euros.

    Tudor is compatible with accounting programs such as SAGA, CIEL, NAVISION or CHARISMA, and can be adapted to the needs of the companies that want to use it.

  • Romanian startup KFactory launches the first team of virtual engineers

    Romanian startup KFactory launches the first team of virtual engineers

    KFactory is the first Industry 4.0 startup funded in Romania, which aims to innovate the entire production process by understanding how all the variables involved influence its performance.

    KFactory launches as an integrated part of its platform an innovative concept, the first team of virtual engineers dedicated to the manufacturing industry.

    This new platform is developed in partnership with Druid and UiPath, using the Druid platform to train virtual engineers specializing in production and UiPath technology to extract the necessary data from various digital sources.

    Standard communication between staff and virtual engineers is through Microsoft Teams.

    In this way, KFactory customers around the world, regardless of size and level of digitization, can take advantage of the most valuable results from the best technologies.

    The KFactory team of virtual engineers is a unique concept that covers vertical processes in a factory, such as production, maintenance, quality and internal supply chain, stimulating the adoption of digital systems without the difficulty and complexity of integration projects.

  • UiPath announced the launch of Automation Awards 2020 competition

    UiPath announced the launch of Automation Awards 2020 competition

    UiPath announced the launch of the UiPath Automation Awards 2020 competition. Open to emerging B2B software automation start-ups and scale-ups in the CEE region and Turkey, the competition rewards the most promising players and emerging talent in the software automation space with a EUR 50,000 cash prize offered by Microsoft, as well as mentoring hours, technical and marketing support offered by UiPath experts, and access to the company’s portfolio of global clients.

    Building on last year’s successful first edition, which attracted applications from more than 16 countries, the competition aims to identify new technologies and companies in the region that can have a global impact and strengthen the larger ecosystem of automation solutions.

    Furthermore, UiPath is keen to reinforce its commitment to supporting the startup ecosystem throughout the CEE and Turkey, and foster innovation in the ever-growing automation space and particularly so at a time of crisis.

    Automation startups and early stage companies can now submit their applications in two categories:

    Start-up Automation Award 

    Open to start-ups up to and including seed-stage only, with existing teams of two or more people, which have developed a viable automation product and have obtained a total financing to date of $1 million.

    Award: Cash prize of €50,000, mentoring with UiPath experts, marketing and tech support over 12 months. The winner will also be offered the opportunity to showcase their solutions at UiPath events and on the company’s channels.

    Scale-up Automation Award 

    Open to companies that have a solid team of 4 or more people and have developed a functioning automation technology they have sold to a maximum of 3 paying customers, and have obtained to date no more than $3 million in funding.

    Award: C-level mentoring and sales support, including the opportunity to present the winning technology to global clients hand-picked by UiPath and have their automation solutions featured in the UiPath Immersion Lab, at UiPath events, and on the company’s channels.

  • Deloitte Intelligent Document Processing, delivered in cooperation with UiPath

    Deloitte Intelligent Document Processing, delivered in cooperation with UiPath

    Deloitte and UiPath announced they are working together to deliver Deloitte Intelligent Document Processing (DIDP).

    DIDP is an on-premise or cloud-based automation accelerator, delivering a capability which captures documents before extracting, classifying, and verifying their data for processing.

    The integrated technology includes Optical Character Recognition (OCR), Human-in-the-Loop (HITL), Machine Learning (ML), and the UiPath RPA.

    The power of DIDP is its ability to handle multiple document types by processing any type of structured or semi-structured document, ranging from invoices to contracts.

    From manual processing to automation

    Invoice processing has always been highly manual for global logistics company DHL Supply Chain, involving dozens of people processing hundreds of thousands of invoices on an annual basis.

    Now with DIDP, the company is automatically processing thousands of invoices from 124 different vendors and has increased capacity by more than 30 percent for invoice processing.

    Deloitte and UiPath have been working together to implement RPA and intelligent automation technologies for clients across a wide array of industries and sectors, including financial services, supply chain, human resources, and procurement.

  • Evolution of the Romanian tech startups ecosystem in 2019

    Evolution of the Romanian tech startups ecosystem in 2019

    After years of constant growth, 2019 set a new milestone in the development of the Romanian tech startups ecosystem. It is growing up and attracting investor’s interest, Money Buzz! learned from EY ”Venture Capital and startups in Romania” report.

    ”Funding of Romanian startups became more sustainable and diversified. The pipeline of the local and international ventures is no longer driven by a few small-sizedcompanies in e-commerce and marketplaces, rather it shows a balanced mix of innovative ideas in FinTech, Biometrics, Blockchain, Robotic Process Automation and HR related solutions. Bucharest is the main hub in Romania, driven by its strong digital workforce and diversity”, the report shows.

    Funding is driven by international investors

    Top funding is driven by international investors with only a few local Romanian funds able to participate in Series A+ rounds. Among the local VC funds investing in the ecosystem, we increasingly see more international players scouting the Romanian tech market for investments opportunities.

    In terms of M&A, corporates remain the most relevant exit channel for startups founders and their VC investors. Romanian ventures are sold in rather early stages, whereby the buyers’ headquarters are outside Romania. Besides the missing experience of an international IPO, the local stock exchange market has never been seen as a relevant exit channel for the Romanian tech startups, despite favorable macroeconomic conditions.

    Empowered by the success of UiPath, the first Romanian unicorn, the local tech startups ecosystem is experiencing a radical transformation. We see double-digit growth in the ecosystem indicators: number of startups, new accelerators, capital raising rounds, total funding amount.

    Half of the investment rounds in 2019 are between $100k and $2m. UiPath accounts for 92.5% of total funding

    Source: EY ”Venture Capital and startups in Romania” report.