IDG Capital has led a $390 million Series A funding round in Fenbi Education, an ed-tech startup that provides vocational education online and offline. Founded in 2015, Fenbi serves users who prepare for the civil service entrance test, teachers’ qualification certificate and postgraduate exam. Fenbi said the capital will be used to hire talent as well as to develop its products and technology. As of January, the company had accumulated 48 million registered users and 7 million paid users since its inception.

Pony.ai, an autonomous driving startup based in China and Silicon Valley, has raised a $100 million extension to its last funding round. Pony.ai, founded in 2016, makes an autonomous driving system called PonyAlpha aimed at facilitating driverless operations. The company is now valued at $5.3 billion, up from $3 billion in February 2020. IDG Capital was a seed investor in Pony.ai and also joined a $112 million Series A funding round in 2018.