SenseTime, a Hong Kong-based artificial intelligence company, is now valued at more than $7.5 billion after several recent investment rounds. Backed by IDG Capital since its inception in 2014, SenseTime is currently the world’s largest AI startup. Recently, SenseTime also began exploring new AI applications in the semiconductor industry and has spent the past two years developing an AI training chip that may complement industry-leading products from Nvidia Corp. SenseTime said it is also now shoring up its presence in Southeast Asia via Singapore, with a plan to triple staff there within three years. Previously, IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017. In addition to Hong Kong and Singapore, SenseTime has operations in the United States, Japan and China.

Circle International Financial, a Boston-based cryptocurrency marketplace, is raising a $100 million venture capital fund for SeedInvest, the equity crowdfunding startup that Circle acquired in March 2019. The fund will also take advantage of the deal flow coming through SeedInvest, which is based in New York City. Previously, IDG Capital was the lead investor in Circle’s $50 million Series C and $60 million Series D funding rounds.
 

Klaytn, the blockchain network associated with Kakao, a South Korean messaging app, said it is currently evaluating two exchanges possible trading platforms for its cryptocurrency Klay. One exchange is based in China and the other in South Korea. The company is also developing a new wallet product, which will support Klay and will be available on its messaging app KakaoTalk. IDG Capital invested in Klaytn in 2018.

Plum, an online trading platform for second-hand luxury goods, raised $20 million in a Series B+ funding round. Based in Beijing, the start-up offers film and advertising expertise, sales, and also customer and consignment services to second-hand fashion sellers. During the past six months, the platform has reportedly witnessed a five-fold rapid growth in gross merchandise volume. Plum, to date, has raised a total of $58.4 million in funding through six financing rounds. In 2017, IDG Capital led Plum’s Series A round.
 

Pinduoduo, a Chinese bulk-buying e-commerce platform, has surpassed search giant Baidu in market valuation, making it the fifth-largest publicly-traded technology firm in China. Pinduoduo currently has a market capitalization of $39 billion, beating Baidu’s $36.7 billion estimate. As the company continues to expand its e-commerce services across China, Pinduoduo has also grown its stock price by 51.3% in 2019 to date, with over a 16.5% gain in the benchmark S&P 500 Index. IDG Capital joined Pinduoduo's Series B funding round in 2016 and Pinduoduo went public on Nasdaq in 2018. IDG Capital was also an early investor in Baidu, which first went public on Nasdaq in 2005.

Meituan Dianping, an IDG Capital backed on-demand service provider for food delivery and many other in China, will re-enter the power bank sharing business for cellphone users, as the Hong Kong-listed company expands its market base. The Beijing-based company said it will roll out power bank sharing stations in shopping malls and other locations across China. Once again, Meituan will use its distinctive yellow color scheme to brand its new product offering. IDG Capital was an early investor in Meituan, which first went public in on the Hong Kong Stock Exchange in 201, raising $4.2 billion from its IPO.
 

HiFiBio Therapeutics, a Paris-based multinational biotherapeutics company, has raised $67 million in a Series C funding round led by IDG Capital. Founded in 2013, HiFiBio seeks to combat diseases like cancer by mobilizing the human immune system. The company operates a drug discovery platform, which develops therapeutic antibodies and immune system modulators, using single-B-cell screening, phenotyping and analysis. HiFiBio said it will use the new funds to further advance its single-cell platform and develop its pipeline for antibody drugs. The firm also operates labs in Cambridge, Massachusetts, and Shanghai.
 

Shein is now one of the leaders in China’s growing global fashion market. A Nanjing-based online fashion retailer, Shein now has 50 million customers worldwide in 224 countries ,but primarily in the U.S., Europe, Australian and the Middle East. Using targeted ads on social media platforms, Shein also has about 7 million followers on Instagram. Revenue surpassed $1.5 billion in 2018. To put that in perspective, that’ about half the revenue of American clothing chain Urban Outfitters. In 2016, IDG Capital joined Shein's Series B round.
 

Liquid.com, a Tokyo-based crypto-currency trading platform valued at over $1 billion, has partnered with BitUniverse, a Hong Kong-based digital assets portfolio tracker and trading terminal. Through the partnership, BitUniverse users will be able to track their Bitcoin portfolio, execute trades and set up trading bots across Liquid and other exchanges. BitUniverse will be able to track and update transaction history and cost-basis data to make performance tracking easier. IDG Capital co-led a Series C fundraising round in Liquid this April.
 

Huohua, a Beijing-based online education platform specialized in math and science teaching, has closed a Series D equity financing round valued at $85 million. Investors included IDG Capital. Industry insiders said the financing round is the largest to date in the math education-focused sector and the company is now on track to become China’s  next unicorn. To develop children’s mathematic and scientific reasoning capabilities, Huohua target students aged between 3 and 12, offering live-streamed courses. The platform currently has nearly 60,000 enrolled, and more than 1,800 teachers. Previously, IDG Capital participated in multiple rounds for Huohua’s affiliate Wanduoduo, a toy rental app that allows users to rent toys for children.
 

Pony.ai, an autonomous driving startup based in China and Silicon Valley, is building a partnership with Japan’s global carmaker Toyota Motor Corp. to accelerate the development and deployment of self-driving vehicles. The two companies will launch a pilot project in Beijing and Shanghai, using Lexus RX vehicles and Pony.ai’s autonomous driving system. IDG Capital was a seed investor in Pony.ai and also joined a $112 million Series A funding round in 2018.
 

IDG Capital has joined a $42 million Series C funding round in Zhiketong, a digital marketing provider offering SaaS-supported transaction services to four and five-star hotels in China. Zhiketong technology platform will help hospitality companies – including Doubletree,  Marriott, Westin and Hyatt – establish a direct-sale store on WeChat, the largest messaging and payment platform in China. The proceeds from the Zhiketong’s latest investment round are designed to help the firm speed up technology innovation and product portfolio development. In 2017, Zhiketong also raised 100 million RMB from IDG Capital.
 

Qkids, an online education platform which connects native English-speaking teachers to Chinese learners, has raised additional funds from Baidu, China's largest search engine, during a recent Series C round. The Xiamen-based online English education provider said it will use the latest investment for product and talent development, and marketing. Qkids currently has more than 600,000 paying students and more than 15,000 English speaking teachers on its platform. "The cooperation between Baidu and Qkids can help more children to gain growth in the valuable learning process," said Xutian Fu, CEO of Qkids. IDG Capital led the firm's Series B financing in 2017. IDG Capital was also an early investor in Baidu, which first went public on Nasdaq in 2005.
 

Coinbase, a San Francisco-based cryptocurrency exchange, has acquired Xapo's institutional custody business for $55 million. With the acquisition, Coinbase currently has over $7 billion in digital assets under custody. According to Fortune, the majority of Xapo's largest clients will transfer their funds to Coinbase, bringing over 514,000 Bitcoins under Coinbase's control. “From the start, we set out to build the world’s safest and most trusted institutional-grade custodian and today is an important milestone on that journey," said Sam McIngvale, CEO of Coinbase Custody. IDG Capital was an angel investor in Coinbase in 2013.
 

Meituan Dianping, an IDG Capital backed and Hong Kong-listed food delivery giant, is developing a mapping service for China – a technology market currently dominated by Alibaba’s AutoNavi and Baidu Maps. The company is currently building a development team, staffed by experts ranging from data mining engineers to machine learning scientists and technicians. Meituan recently surpassed search giant Baidu and e-commerce giant JD.com in market capitalization. IDG Capital was an early investor in Meituan, which went public in on the Hong Kong Stock Exchange in 2018, raising $4.2 billion through its IPO.
 

Lime, a San Francisco-based electric scooter and bike-sharing provider, reportedly plans to raise $500 million to grow its global business. The startup is now valued at $2.4 billion. IDG Capital joined Lime's Series A funding round in 2017.