Bilibili, China's answer to Netflix, will launch a satellite this month in an effort to attract more young viewers to its programs of general science and astronomy education. A collaboration with Chang Guang Satellite Technology, the satellite will collect images and videos of the earth and other celestial bodies for posting on the new online channel. Prior to Bilibili's listing on Nasdaq, IDG Capital led Bilibili's Series A funding round and also joined its A+ and B rounds.

Secoo, a Nasdaq-listed luxury retailer, has received $100 million investment from Qudian, a New York-listed Chinese online micro-credit provider, in exchange for 28.9% stake. The duo plan to cooperate and fuel opportunities for expansion in the Chinese online luxury e-commerce market, which has reached $7.5 billion in 2019 and is expected to increase over 50% year-over-year in 2020. IDG Capital previously invested in Secoo's Series A, B and C funding rounds.

Chinese smartphone manufacturer Xiaomi will launch a crowdfunding health care platform, Xiaomi Huzhu, in response to China’s fast-growing online mutual aid industry. In China, subscribers to online mutual aid platforms are expected to reach 450 million by 2025. At Xiaomi Huzhu, qualified patients can claim up to $70,000 for critical illnesses, including 82 major diseases and 10 serious ailments specific to children. IDG Capital was an early investor in Xiaomi, which first went public in Hong Kong in 2018.

News Break, an AI-powered news aggregation app created in 2015 by Mountain View, Calif.-based Particle Media, surged to be the third-most downloaded U.S. iOS app in mid-March amid the COVID-19 pandemic. The firm also recently hired Harry Shum, former president of Microsoft AI and Research Group, to further grow the business. Previously, IDG Capital led News Break's Series A round in 2016 and also joined its Series B round in 2017.

IDG Capital led a $1 billion Series B funding round in MGI Tech, a gene-sequencing equipment unit of Chinese genome giant BGI Group. This has become the largest scale of financing round completed in China’s gene-sequencing field. Founded in 2016, MGI develops healthcare solutions, sequencing devices, consumables and reagents to support life science research and the healthcare industry. The company currently has more than 1,000 employees and over 40% are researchers, with over 740 applications filed for technical patents.

China's leading food delivery app Meituan Dianping has exceeded $100 billion valuation this week, which makes Meituan the third Chinese firm to reach the landmark valuation following Tencent and Alibaba. During the Covid-19 pandemic, the average value per order jumped by 14.4% as a large number of premium restaurants also joined Meituan’s food delivery services. IDG Capital was an early investor in Meituan, which went public in on the Hong Kong Stock Exchange in 2018.

In a move to expand Amazon’s reach in autonomous-vehicle technology, Amazon is in advanced talks to buy Zoox, an autonomous vehicle startup backed by IDG Capital. Based in Foster City, California, Zoox develops the hardware and software needed to create electric-powered, robot taxis that would be summoned by smartphone app starting this year. To date, Zoox has raised over $790 million during three funding rounds. IDG Capital joined Zoox's Series A funding round in 2016.

Electric vehicle (EV) startup Xpeng has secured a production license for its recently-built, wholly-owned manufacturing factory located in Zhaoqing, Guangdong. The new plant contains five unique workshops that cover the essential manufacturing functions, including stamping, welding, painting, assembly as well as battery pack production. The facility also includes private test tracks that have 18 different types of roads for various braking and automatic safety system testing. Previously, IDG Capital co-led Xpeng's $348 million Series B round in 2018.

Bilibili, an IDG Capital-backed Chinese video-sharing platform, recorded a 70% year-over-year growth to reach 172 million monthly active users by Q1. Different from Tencent Video that distributes professionally produced programs, Bilibili relies on a wide array of user-generated content in the style of Youtube. The number of monthly creators also grew 146% to 1.8 million, who collectively submitted 4.9 million pieces per month. Previously, IDG Capital led Bilibili's Series A funding round and also joined the company's A+ and B rounds.

Nasdaq-listed iQiyi, China's dominant online video platform based in Beijing, has posted a 9% revenue growth to $1.1 billion despite the disruption from the COVID-19 outbreak. Membership services continued to serve as the major driver, as the company attributed this to its premium content and increased entertainment demand. iQiyi said it has also made progress in building a more balanced content mix, expanding monetization initiatives and exploring technology innovations. Previously, IDG Capital joined iQiyi's $1.53 billion financing round in 2017.

IDG Capital joined a $10million Series B financing round in WakeData, a Shenzhen-based digital upgrade service provider. Through big data and artificial intelligence, WakeData integrates customer operation and resource management to digitally upgrade products and services for enterprises. The new financing proceeds will help WakeData’s R&D in digital solutions, market expansion and digital ecology construction. Previously, IDG Capital also led WakeData’s pre-A round of financing.

In an interview, Nigerian-based mobile payments app OPay says that the firm remains committed to the super app strategy with five current product offerings. These services include B2C e-commerce, B2B e-commerce, logistics delivery, restaurant delivery and motorcycle ride-hail service. Between January and April, the offline and online transaction volume increased by 44%. In 2019, 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.

Razer, a $438 million global gaming hardware maker, plans to dispense its locally produced masks in Singapore through a network of vending machines across the city-state. Razor is among companies that have modified or set up new factory lines to meet a surge in demand for medical products, with a monthly production of 10 million. The initial five million masks will be free for citizens and residents aged 16 and over. IDG Capital-Accel China invested $50 million in Razer in 2011. Razer, based in Singapore, went public on the Hong Kong Stock Exchange in 2017.

Kingsoft Cloud, a Chinese cloud storage and distribution firm, debuted this week on NASDAQ – with shares rising 40% during its first day of trading. As the only Chinese cloud service company listed in the US, Kingsoft Cloud benefits from a boom in China’s cloud services market. During the company’s initial transformation from cloud storage service, IDG Capital was the earliest external investor in Kingsoft Cloud and has joined its multiple financing rounds since Series B+.

Shanghai-based electronics chips developer ASR Microelectronics has raised $119 million in a Series D+ round of financing, reaching a valuation of over $1.6 billion. ASR designs and develops chips for mobile communication terminals, Internet of Things applications and consumer electronics. In 2018, IDG Capital co-led ASR’s $100 million Series B funding round.

IDG Capital-backed rehabilitation robots developer Fourier Intelligence has completed a Series B+ funding round this week. Fourier currently supplies products to more than 500 hundred hospitals and research institutions in China. The Shanghai-based company said the new funding will boost the company’s capability to deliver innovative, cost-efficient products and services. In 2018, IDG Capital joined Fourier's $4.8 million Series A funding round.