During a state visit to China, Colombian President Ivan Duque Marquez met with executives from LAIX, an artificial-intelligence-powered education company. LAIX, which focusses on online English-language learning, used the event to showcase its products which utilize big data, education pedagogies and deep learning. Hoping to turn Columbia into a bilingual country, President Marquez invited LAIX to expand there. The Shanghai-based platform currently has more than 120 million registered users worldwide. In 2018, LAIX raised $71.9 million during its initial public offering public on the New York Stock Exchange. Previously IDG Capital participated in LAIX’s Series A, Series B and Series C funding rounds.

Club Factory, a Chinese cross-border fashion e-retailer, plans to expand its customer base in India by showcasing more than 10,000 sellers. To assist the onboarding initiative, Club Factory, said it will waive fees and invest in warehousing, delivery and related technologies. Club Factory, based in Hangzhou, entered India in 2016 and currently has operations in Gurgaon, southwest of New Delhi. It also plans to expand into Bengaluru and Mumbai. In 2018, IDG Capital led a $100 million Series C funding round in Club Factory. It also joined the firm's Series A round in 2016.

Wanda Sports, a unit of Chinese conglomerate Dalian Wanda Group, went public on Nasdaq, raising $190.5 million. The company said it plans to use the funding from the IPO to pay down debt and also fund strategic investments. In 2015, Wanda Sports acquired Infront Sports & Media, based in Switzerland and backed by IDG Capital, for $1.2 billion.

Pony.ai, China’s first autonomous ride-hailing startup, is gaining strength in the global driverless car market. The Chinese venture became only the second company last month to earn permission to operate taxis in California, after Zoox. Waymo, an Alphabet unit, received a permit two weeks later. Currently valued at $1.7 billion, Pony.ai currently envisions ride-hailing as a major revenue source, in addition to software licensing to automakers and freight services. The company now operates more than 30 self-driving taxis in a test zone in Guangzhou and plans to expand its fleet to 100 by year-end. IDG Capital was a seed round investor in Pony.ai and also joined a $112 million Series A funding round in 2018.

The Italian luxury outerwear brand Moncler recorded revenues of $634.8 million during the first half of 2019, a 13% increase over the same period last year. Net income also increased 16% to $79.3 million in the first half, the firm said. IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.

SenseTime, a Hong Kong-based artificial intelligence company, is setting up a hub in Abu Dhabi, the capital of the United Arab Emirates, where it plans to hire hundreds of engineers. The firm said its new research and development center there will focus on AI capabilities for seven industries, including healthcare, remote sensing and education. SenseTime also said it has seen a 400% revenue increase in the past several years, due, in part, to AI applications in more industries, ranging from camera sales in retail stores to driverless cars from Honda. Previously, IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017.

Razer, a $438 million global gaming hardware maker, has launched a program to support streamers with prizes, incentives, discounts and partnerships. Accepted streamers will receive discounts on Razer equipment and can also be eligible to win prizes. According to Razer, the promotion program received 10,000 applications within the first two weeks of its launch. 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.

Qkids, an online education platform which connects native English-speaking teachers to Chinese learners, has launched a new science-based English course in partnership with Singapore-based Star Publishing. Qkids is now the first Chinese online education company to co-develop and co-publish textbooks outside China with an overseas partner. IDG Capital led the firm's Series B financing in 2017. Founded in 2015, Qkids operates out of Shenzhen, Xiamen, Guangzhou and Beijing.

Circle, a Blockchain-based cryptocurrency fintech firm, announced the launch of a new subsidiary in Bermuda. Circle, based in Boston, said it’s the first major cryptocurrency exchange and wallet service to receive this type of permit. Because of this relationship, Circle said, each side can capitalize on the increasingly uncertain regulatory environment for cryptocurrency and digital assets globally. IDG Capital was the lead investor in Circle’s $50 million Series C and $60 million Series D funding rounds.

IDG Capital has joined a $12.36 million Series B financing round in Fenbeitong Technology, a corporate expense management startup. Based in Beijing, Fenbeitong helps Chinese enterprises reimburse employees for expenses incurred in business travel, car purchases and other business expenses. The company currently serves more than one million employees across over 1,000 enterprises, including Chinese food delivery giant Ele.me, ride-hailing platform Didi Chuxing, China Southern Airlines and Spring Airlines. Previously, IDG Capital led Fenbeitong’s $4.36 million Series A round and also co-led a $5.82 million Series A+ round.

Rokid, an artificial intelligence firm headquartered Hangzhou, China, will soon unveil a new lightweight pair of Augmented Reality glasses. The glasses will plug directly into user devices to better leverage CPU processing, Rokid said. Rokid is now scheduling the AR launch for 2020. The glasses will be priced between $800 and $1,000. An angel investor in Rokid, IDG Capital joined the start-up’s Series A and B funding rounds in 2014 and 2016 and also participated in another $100 million financing round.

NIO, a global manufacturer of smart, electric autonomous vehicles, is expanding its recharging services to allow owners of non-NIO EVs to access its recharging equipment in 53 cities. The company first went public on the New York Stock Exchange in 2018, raising $1 billion during its initial public offering. Previously, IDG Capital also joined the NIO’s Series B+ funding round. Based in Shanghai, the firm also has operations in Beijing, San Jose, London and Munich.

Cryptocurrency trading platform Coinbase, based in San Francisco, is providing major customers with exclusive data about user trading behavior and price correlation. High-end traders can now access top holders’ buy/sell positions, average hold times and other information about the popularity various assets, including asset correlation. Trading signals based on this data, Coinbase said, can help traders build stronger crypto portfolios. IDG Capital was an angel investor in Coinbase in 2013.

Jim Breyer, IDG Capital's Co-Chairman, believes that the U.S. and China now each have different strengths in the global artificial intelligence (AI) market. “There are areas in China where some of the facial-recognition AI companies are the most advanced in the world,” Breyer told Forbes. “But there are other technologies in the U.S., such as IoT (the Internet of Things) and machine learning, where AI is more advanced. But it is a race.” In addition to his work as a Co-Chair at IDG Capital, Breyer is also the Founder and CEO of Breyer Capital in Menlo Park, Calif., which was an early investor in Facebook.

IDG Capital participated in a Series B funding round at Fourier Intelligence, a Shanghai provider of low-cost robotic exoskeletons for physical rehabilitation. Fourier currently estimates the global exoskeleton market could reach $500 million by 2023, with roughly two-thirds of sales coming from the U.S. and Europe. The firm currently supplies products to more than 500 hundred hospitals and research institutions in China. Previously, IDG Capital joined Fourier’s $4.8 million Series A funding round in 2018.

Three Squirrels, China’s leading e-commerce snack brand, raised $87.5 million in an initial public offering on the Shenzhen Stock Exchange. During its trading debut, the stock price surged 44%, reaching the daily trading limit. Founded in Anhui Province in 2012, Three Squirrels posted $1.5 billion in sales in 2018. The company primarily sells nuts, seeds, dried fruits and other snacks. IDG Capital led Three Squirrels’ $1.5 million Series A round in 2012 and also joined its Series B and Series C rounds.