Cross-border fashion e-commerce company SHEIN is now the most downloaded application in the United States, surpassing other powerhouses like TikTok, Instagram, Twitter, and even Amazon. Currently, Shein provides more than 600,000 products to more than 220 countries and regions across Europe, North America, the Middle East and South Asia. Bloomberg revealed earlier that the company’s valuation is expected to reach $100 billion. IDG Capital joined Shein's Series B round.

Gentle Monster and Moncler Genius, two fashion brands backed by IDG Capital, have joined forces to launch a collection of futuristic eyewear and outerwear designs. In celebration of the partnership, Gentle Monster and Moncler have launched a pop-up space in Gentle Monster’s HAUS DOSAN flagship in Seoul. The collection is displayed in immersive installations that blend the physical and digital worlds together. IDG Capital was an early investor in Moncler, which went public in Milan in 2013, and also invested in Gentle Monster.

IDG Capital has joined a $45million angel and angel+ rounds of financing of Flywheel Digits, a China-based cloud-native real-time database supplier. Flywheel Digits was founded in December 2021 by Lian Linjiang, former general manager of Baidu Smart Cloud Big Data and Video Cloud. As an open-source technology company, the startup will work on Apache Doris (Incubating), a real-time OLAP (on-Line Analytic Processing) database, and work with developers in the open-source community to enhance its international reach.

Forbes has named IDG Capital's Young Guo (#69) and Xiaojun Li (#80) again to its Midas List, an annual ranking of the world's top 100 tech capitalists. Young retains his place with his early investment in cryptocurrency exchange Coinbase and autonomous vehicle startups, including Zoox, acquired by Amazon for $1 billion-plus in 2020, and Pony.ai, which reached an $8.5 billion valuation in March 2022. Xiaojun retains his place with his investment in smartphone maker Xiaomi, live tutoring app Yuanfudao and insurtech firm Waterdrop.

IDG-backed solar energy company Gaojing has received $251 million in a Series A round of financing to speed up the construction of photovoltaic (PV) silicon wafers production facilities. IDG Capital also participated in this round. Founded in 2019, Gaojing focuses on the R&D and manufacturing of high-efficiency, large-sized silicon wafers that leverage PV technology to generate electricity when exposed to light. “IDG Capital has a strong belief that Gaojing will help promote the development of the PV industry and realize the adoption of larger-scale, lower-cost products,” said IDG Capital partner Yu Xinhua.

IDG Capital has led investment rounds in FlowUs, a one-stop digital information management SaaS software. Founded in 2021, FlowUs provides a one-stop digital information management solution for individuals and enterprises. Its products are positioned as a new generation of productivity tools that integrate functions such as documents, multidimensional tables, and folders. The proceeds will be used in product optimization and the development of its core functionality.

London-based online luxury fashion platform Farfetch has invested $200 million in traditional fashion retail company Neiman Marcus Group, which will use the proceeds to enhance its omnichannel performance. Farfetch currently owns 6% of the total $68 billion online personal luxury goods market. With this new partnership, Farfetch further raises its status in multi-brand retail after a year of supporting Harrods’ e-commerce strategies. In 2016, IDG Capital led Farfetch's Series F funding round.

Bilibili, an IDG Capital-backed Chinese video-sharing platform, introduced a new earphone brand called Bilipods with a first product launch, as the company attempts to expand its business in the consumer electronic market. Targeting the mid to low-end market, the newly released earphones support high-resolution audio with Bluetooth. Users can also enjoy special UI animation effects while watching videos on Bilibili. IDG Capital led Bilibili's Series A funding round and joined its A+ and B rounds.

Doosan Mobility Innovation (DMI), a wholly-owned subsidiary of Doosan Corporation that develops hydrogen-powered drones, raised 27 billion won ($22.5 million) from a group of investors, the company said Tuesday.

IDG Capital, Korea Investment Partners and DS Asset Management participated in the funding.  

Doosan Corporation's stake in DMI went from 100 percent to 86.96 percent following the transaction.  

The Korean drone company plans to use the newly-raised funds to fortify its drone lineup and overseas business and invest in further research and development into fuel cell systems.

Chinese electric vehicle company Xpeng, with participation from IDG Capital, led an investment into a new $200 million fund focused on backing electric vehicles and “frontier technology” start-ups. The fund, called Rockets Capital, will focus on “venture and growth stage investments in Smart EV industry value chain, clean energy, and frontier technology areas.” IDG Capital co-led Xpeng's $348 million Series B round in 2018.

JMGO, a Shenzhen-based smart projector and laser TV maker, has secured $157.5 million in a new funding round from investors including IDG Capital. The funds will be used as working capital to support the expansion of JMGO’s business scale, and to invest in key strategic businesses such as technology reserves, product development, channel expansion and brand promotion. IDG Capital was an early investor in JMGO.

IDG Capital has led a new funding round in Tidetron, a Chinese startup that uses synthetic biology to produce raw materials for industries from skincare to biopharmaceuticals. The funding has brought Tidetron’s total fundraising size to over $100 million. Synthetic biology has been recognized as “the 3^rd biotechnology revolution”, the fastest growth area of frontier science in recent years. The proceeds will be mainly used for the research and production of new pipelines, including the research and large-scale mass production.

IDG Capital is exploring the possibility of selling the stakes in Olympique Lyonnais, a French professional football club based in Lyon. The purpose of the financial structure adjustment is to enable the continuation of development projects which include the multipurpose arena, the OL Reign women's team in Seattle and OL Groupe's investments in ASVEL men's team. In 2016, IDG Capital took a 20 percent stake in the French football club.

Inceptio, an autonomous driving truck startup backed by IDG Capital, has raised a $188 million funding round. The startup collaborated with domestic original equipment manufacturers (OEMs) to develop China’s first driverless heavy-duty trucks for freight routes across the country. Inceptio said the fresh capital will go towards mass-producing driverless trucks, converting these vehicles from running on gas to electricity, and developing its proprietary full-stack autonomous driving system.

IDG Capital has co-led a Series Pre-A round of financing in LMBio, a biotechnology startup specialized in cell therapy, to support LMBio’s efforts to develop tumor-infiltrating lymphocyte (TIL) therapy for solid tumors. Founded in December 2020, LMBio focuses on the development of cell therapy products leveraging TILs, providing tumor patients with new treatment. Proceeds from the round will be used to help LMBio prepare for IND filings for multiple programs.

Italian luxury apparel manufacturer Moncler recorded revenues of over 2 billion euros for the year 2021, exceeding by 44% the revenues of 2020. All numbers are the result of the impressive expansion strategy of the brand, which this year has multiplied its collaborations with brands of the Genius project and with international personalities such as Alicia Keys. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.