IDG WeChat qr Code
IDG Capital led a $100 million Series D round in Club Factory, a Chinese cross-border e-commerce platform for fashion, beauty items and electronics accessories. Club Factory’s principal markets are India, Southeast Asia and the Middle East. The Hangzhou-based firm has more than 70 million users, 40 million of whom live in India. To further expand its reach in India , Club Factory said it will leverage its latest investment to help sign up more than 10,000 sellers in India by year-end. In 2018, IDG Capital led a $100 million Series C funding round in Club Factory and also joined the firm's Series A round in 2016.
Xforceplus, a Shanghai-based provider of corporate software as a service (SaaS), raised $100 million in its latest Series C financing round. Founded in 2015, Xforceplus provides SaaS-based cloud computing software services and other industrial solutions to large-scale enterprises in manufacturing, retail, real estate, medicine and logistics. Major customers include the McDonald’s fast-food chain and Compass Group, a United Kingdom-based supplier of food services. Xforceplus’s capital raised across six funding round now totals $140.41 million. In September 2018, IDG Capital also joined a Series B round in Xforceplus.