Chinese medical imaging equipment XpectVision Technology, backed by IDG Capital since 2016, has completed $21 million Series B+ round. Headquartered in Shenzhen, XpectVision mainly develops photon-counting X-ray imaging chips and high-performance whole machine systems in the medical and industrial fields. The company has nearly 400 invention patents applied and obtained worldwide. Previously, IDG Capital led XpectVision’s Series A round and also joined its Pre-B round.

Electric vehicle (EV) startup Xpeng has raised $500 million in a Series C+ round to further develop models tailored to China's middle-class consumers. The new proceeds bring the startup's to-date funding announced to $1.7 billion. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

Shein, an e-commerce women's fashion platform based in China but with supporting websites and tens of millions of customers worldwide, has become one of the most popular retailers in the UK after deploying TikTok influencers to attract Generation Z. This has created an organic viral effect across the app, helping Shein rank consistently in the top five shopping apps across Apple and Android in both the UK and the US. IDG Capital joined Shein's Series B round in 2016

Nasdaq-listed iQiyi, China's dominant online video platform based in Beijing, has been researching the use of facial recognition for the two-dimensional heroes of their shows. Its dataset contains over 400,000 images of more than 5,000 animated characters. iQiyi said the technology could be used for things like automatic editing, filming, advertisement recommendations and computer-aided modeling. Previously, IDG Capital joined iQiyi's $1.53 billion financing round in 2017.

IDG Capital-backed online education company Yuanfudao announced it has become the official e-learning service sponsor of the Beijing 2022 Winter Olympic and Paralympic Games. Yuanfudao currently offers a series of online education services, including online tutoring, smart learning and problem analysis, to over 400 million users in China. The sponsorship will help demonstrate China's advanced education technology to the world. IDG Capital, which first invested in the firm in 2012, is the sole investor who has joined each financing round since Series A.

IDG Capital has led a Pre-A round in Shenzhen-based artificial intelligence company SmartMore. Founded in 2019, SmartMore provides AI, 5G and other technology solutions in the field of intelligent manufacturing and ultra-high-definition video. The startup currently has two core offerings - SMore InSight, an intelligent manufacturing solution that solves complex defect inspection problems, and SMore Media, an AI processor for 8K ultra-high-definition video enhancement. Smartmore said the new capital will be used in R&D, recruitment and market expansion.

IDG Capital has led a $4 million Series A round of financing in HyperSKU, a Hong Kong-based B2B solution provider for eCommerce businesses. Founded in 2018, HyperSKU provides backend infrastructure sourcing and fulfillment, a critical factor for online sellers. The startup has grown rapidly due to the logistics demands of eCommerce sellers on Amazon, Facebook, and Shopify.

IDG Capital has led $7 million Series A investment in Beijing-based baby care service provider Haoyun Mama. Founded in 2014, Haoyun Mama trains baby caretakers with its in-house developed standardized courses and also connects the trained caretakers to families with newborns. Since its launch, the company has trained more than 200,000 caretakers. Although affected by the COVID-19 pandemic, the firm still managed to sign up more than 30,000 families since January.

E-commerce giant Amazon has announced its acquisition of Zoox, a driverless taxi startup based in California, for the purposes of providing a full-stack solution for ride-hailing. Zoox aims to build a fit-for-purpose self-driving passenger vehicle from the ground up, along with the software and artificial intelligence needed for autonomous driving. Amazon said Zoox will continue to exist as a standalone business after the acquisition. Previously, IDG Capital joined Zoox's Series A funding round in 2016.

Beijing-based API developer Agora has gone public on Nasdaq, debuting at $20 per share, ahead of its $16 to $18 proposed price range and closed up 153% in its Nasdaq debut. Founded in 2014, Agora is an API-powered company that allows customers to embed real-time video and voice abilities in their applications. In 2015, IDG Capital joined Agora’s Series B round.

21Vianet, a Nasdaq-listed Chinese data center service provider, has received $150 million investment from private equity firm Blackstone, making Blackstone one of the largest institutional shareholders in 21Vianet. Founded in 2006, 21Vianet provides hosting and related services, including cloud and business VPN. The company said Blackstone’s investment will further strengthen its balance sheet and help reinforce its position in China’s hyper-growth data center market. Previously, IDG Capital led 21Vianet’s Series A and Series B rounds.

Lime, a San Francisco-based electric scooter and bike-sharing provider, has closed the acquisition of Uber’s micromobility subsidiary Jump in Europe. Lime will leverage all Jump assets, from design to IP and branding, and plans to redeploy Jump scooters and bikes first in London, Paris, Rome and Barcelona. Lime, which currently operates in more than 150 cities worldwide, is valued at $2.4 billion. IDG Capital joined Lime's Series A funding round in 2017.

IDG Capital co-led a $155 million Series A round in Biren Technology, a Shanghai-based intelligent chip maker. The investment has set a new record for A-round financing in China’s intelligent chip industry in recent years. Founded in 2019, Biren develops chips and cloud computing technology in the fields of GPU, DSA (domain specific accelerator) and computer architecture. The new capital will be used to accelerate technological product development and market expansion.

Electric vehicle (EV) startup Xpeng has revealed its self-built wholly-owned factory in Zhaoqing, Guangdong Province. Xpeng is now the only new smart EV maker in China that has both self-owned and contracted plants. Spanning a planned area of 2 million square metres, the factory has five cutting-edge workshops including stamping, welding, painting, final assembly, and battery pack production. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

OPay, a Nigerian-based mobile payments app, now has 5 million users and processes over 60% of mobile money transactions in Nigeria. Despite the decline of ORide impacted by Covid-19, Opay’s payments grew over 400% in April compared to last year. In March, Opay entered the ecommerce space by releasing a B2C ecommerce marketplace OMall and a B2B trading service OTrade. Previously, IDG Capital led a $50 million investment in OPay, which was founded by Norwegian browser company Opera Ltd. in which IDG Capital was also an early investor.

IDG Capital co-led a $283 million Series B round in Eswin Computing Technology, a Beijing-based chip maker that supplies semiconductor solutions. Previously, IDG Capital also joined the firm’s Series A round. Founded in 2016, Eswin develops integrated chips and solutions focused on displays and videos, AI data processing and wireless connection. The company said the new capital will help spur its domestic chip production in China, which today relies heavily on U.S. and U.K. firms.