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Lime, a San Francisco-based electric scooter and bike-sharing provider, now includes the option of renting vehicles from other companies. With the aim to become a one-stop shop for transportation, the company is launching a micro-mobility platform that promises more choices for rides, starting with Wheels, which is a complement to Lime’s conventional two-wheelers. IDG Capital joined Lime's Series A funding round in 2017.
SheIn, an e-commerce women's fashion platform based in China but with supporting websites and tens of millions of customers worldwide, is gaining popularity with American teens. The company came in second only to Amazon in a ranking of teens' favorite e-commerce sites in Piper Sandler's latest “Taking Stock With Teens" survey. With 13.8 million Instagram followers, SheIn is known for its trendy items and rock-bottom prices. IDG Capital joined SheIn's Series B round in 2016.
iQiyi Sports, a sports streaming platform jointly operated by Nasdaq-listed iQiyi and IDG Capital-backed Super Sports Media, have reached a media-rights agreement with Wrestling entertainment promoter WWE. Starting September, iQiyi Sports will show WWE’s flagship weekly programs and monthly pay-per-view events. IDG Capital took a 13.33% stake in iQiyi Sports in 2018 and was also an investor in the parent company iQiyi, which Baidu, another IDG Capital-invested company, spun off in 2010.
Zoox, a driverless taxi startup that was acquired by Amazon, has gained a permit from California regulators that will allow it to test driverless vehicles on public roads. While 60 companies have active permits to test autonomous vehicles with a safety driver, Zoox is the fourth holder of this driverless permit. The new permit allows Zoox to test two autonomous vehicles without a driver behind the wheel on specified streets near its Foster City headquarters. IDG Capital invested in Zoox in 2016.
Razer, a San Francisco- and Singapore-based manufacturer of gaming peripherals, is exploring bank license applications in the US and Europe, after applying to become a regulated bank in Singapore. As a leader in esports, Razer has been pushing deeper into financial technology with its own virtual credits for gamers and a digital payments division. IDG Capital-Accel China invested $50 million in Razer in 2011.
Farfetch, a London-based luxury e-tailer, has unveiled a new global marketing drive alongside its new brand identity. The company said that the campaign brings its unique business model to life with “open-mindedness and optimism the driving forces”. The campaign will be launched in New York, Shanghai and London and will include “a multi-layered international content journey for customers across the Farfetch ecosystem and community”. In 2016, IDG Capital led Farfetch's Series F funding round.
IDG Capital has invested $14.6million in Beijing-based Dreame, a smart consumer technology startup that produces premium hairdryers and vacuums. The company has published more than 840 patent applications including over 270 invention patents. Dreame also joined the Xiaomi Technology Ecosystem at the end of 2017. The fresh proceeds will fuel Dreame’s marketing and sales efforts in Europe and North America and allow it to spend more on research and development.
Electric vehicle (EV) startup Xpeng, closed up more than 40% in its debut on the New York Stock Exchange on Thursday, after a $1.5 billion initial public offering. Founded in 2015, Xpeng is based in Guangzhou and also has an office in Silicon Valley. IDG Capital first joined Xpeng’s Series A round and also co-led its Series B round. Now IDG Capital is the third largest investor.
Razer, a San Francisco- and Singapore-based manufacturer of gaming peripherals, unveiled record high revenue of USD $447.5m, representing 25.3% year-on-year growth during the coronavirus pandemic period. Razer is most famous for its elite gaming hardware but has evolved over the years to include other services including payments, as well as software and fintech. In 2011, IDG Capital-Accel China invested $50 million in Razer.
Huohua, a Beijing-based online education platform specialized in math and science teaching, has closed $150 million financing round in the Series E1 round. Investors included IDG Capital. The total amount of capital the company raised has reached $340 million. Previously, IDG Capital also led the Series A round for Huohua's affiliate Wanduoduo, a toy rental app that allows users to rent toys for children.
Helijia, a platform for booking in-home, on-demand beauty services, has received investment from tech giant Alibaba, furthering the two companies’ cooperation in the beauty sector. Launched in 2014, the app allows users to make reservations for facials, manicures, nail treatments and massages, and have technicians serve them at home instead of going to brick-and-mortar locations. IDG Capital has led multiple financing rounds in Helijia.
Luminar, a Florida-based startup that makes LIDAR sensors and other components essential for autonomous driving technology, is merging with Gores Metropoulos, a company sponsored by an affiliate of The Gores Group, a global investment firm. The combined company will have an “implied pro forma enterprise value” of approximately $2.9 billion and an equity value of $3.4 billion at closing. IDG Capital was an early investor in Luminar.
Firework, a Redwood City-based video-sharing start-up, has launched Open Story Page (OSP), providing a way for creators to monetize content without follower base requirements. Firework will expand its reach beyond the company's app by leveraging the Web to increase the content's visibility through multiple sources. Previously, IDG Capital led a $30 million funding in Firework and was also an early investor in Loop Now Technologies, Firework's parent firm.
IDG Capital-backed chipmaker VeriSilicon debuted on China's technology-focused STAR Market, raising $3 billion from its initial public offering. Founded in 2001 and headquartered in Shanghai, China, VeriSilicon has five design and R&D centers in China and the United States. Funds raised from the IPO will focus on R&D, including for consumers devices, as well as a “custom SoC platform for the smart cloud” and “R&D center upgrading projects”. IDG Capital joined VeriSilicon’s Series A round and the company has become the 6th company going public in 2020.
Xiaomi, the world's fourth-largest smartphone manufacturer, will enter Hong Kong's Hang Seng Index next month. The company, along with IDG Capital-backed delivery platform Meituan Dianping, will also join the 'H-share' Hang Seng China Enterprises Index, which represents Chinese companies listed in Hong Kong. IDG Capital was an early investor in Xiaomi, which first went public in 2018 with a $52.7 billion valuation.
Waterdrop, a Beijing-based healthcare crowdfunding startup, has raised about $200 million to bankroll its expansion in healthcare crowdfunding, reaching a valuation of $2 billion. With more than 250 million users, Waterdrop works with 28 insurance companies including some of China’s biggest names. In 2018, IDG Capital joined a $74 million Series B funding round in Waterdrop.