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Flexible display manufacturer Royole Corp., whose investors include IDG Capital, is now mass producing products at its 1.1-million-square-feet campus in Shenzhen. The firm will produce up to 50 million flexible displays per year. With its other operations in Fremont, California and Hong Kong, Royole Corp. is currently valued at $3 billion. Among the firm's most recent products are the world's thinnest full-color flexible display and the first foldable 3D virtual mobile theater.
IDG Capital has led Series A+ funding round in Zailouxia, a Beijing-based firm which operates fresh-goods vending machines in hundreds of Chinese residential communities. The IDG Capital investment follows an earlier investment in the Zailouxia's Series A round. More than 100,000 thousand residents currently use the firm's vending machines in the Beiing area alone.
Ranked No.10 on the Forbes Global 2000 list, Ping An, the world's second largest insurer, is creating new financial technology products in China The Shenzhen-based insurance-finance giant is now pursuing a technology-centric strategy, incorporating cloud services, artificial intelligence and blockchain technology. Ping An has also launched a variety of online health initiatives, including Ping An Good Doctor, a healthcare portal with 30 millionactive users. IDG Capital was an early investor in Ping An God Doctor, which recently raised $1.1 billion on the Hong Kong Exchange.
Ethereum wallet imToken is moving its headquarters from China to Singapore, as it expands globally. In one year’s time, the cyrptocurrency firm has accumulated $35 billion in assets. IDG Capital, whose cryptocurrency portfolio now includes Coinbase, Ripple, and Circle, recently invested $10 million in imToken.
Rokid, a Hangzhou-based artificial intelligence firm, is developing both AI chipsets and AI operating system-based products. In January, the company debuted augmented-reality glasses at the Consumer Electronics Show and plans to release an upgraded version soon. IDG Capital has participated in all four funding rounds since Rokid was founded in 2014.
Cryptocurrency leader Coinbase has launched operations in Japan as part of a recent initiative to globalize its business. The San Francisco-based company said it will also work with the Japanese Financial Service Agency to ensure local compliance. IDG Capital was an early investor in Coinbase.
IDG Capital recently increased its investment in Rossignol Group, one of the world's top outdoor sports brands, and now holds a 20-percent ownership. Founded in 1907, Rossignol Group, based in France, produces products for the winter sports, golf and cycling industries and has sponsored multiple Winter Olympic champions since 1924. IDG Capital's latest investment will help Rossignol Group further expand into China, a burgeoning winter sports market which could reach $17 billion by 2025.
IDG Capital recently invested $10 million in imToken, the world's largest Ethereum wallet. The latest investment will help fund imToken's global expansion and improve its security features. The startup currently has 4 million users and houses $35 billion in crypto assets. The Hangzhou-based startup is IDG Capital's latest addition to a cryptocurrency portfolio which also includes Coinbase, Ripple, and Circle.
Artificial intelligence startup SenseTime has raised more than $1.2 billion, including $620 million through its most recent financing round. The Hong Kong-based company is now valued at more than $4.5 billion and has 700 enterprise clients globally, including Honda, Nvidia, UnionPay and Huawei. IDG Capital joined SenseTime's Series B in 2017.
IDG Capital has invested in OneMena, a mobile service provider targeting the Middle East market. The Beijing-based startup currently offers a variety of applications to over 20 Arab countries, including a news aggregator, a photo album and a digital healthcare app.
Home robot manufacturer ECOVACS has raised $135 million through an initial public offering on the Shanghai Stock Exchange. The Chinese company has developed more than 20 in-home robotic products and now operates in more than 30 countries. It also holds 345 trademarks and more than 1,000 patents globally. IDG Capital invested in ECOVACS in 2013.
IDG-backed Coinbase, a cryptocurrency exchange, recently acquired Paradex, a peer-to-peer token trading platform. Since its launch in 2012, the San Francisco-based firm has traded more than $150 million in assets for 20 million customers. CNBC recently ranked Coinbase 10th on its "Disruptor 50" list.
Kr Space, China's leading co-working space operator, will expand its operations into Hong Kong. IDG Capital has previously participated in three Kr Space venture rounds.
SenseTime, an Artificial intelligence (AI) company, recently teamed up with Alibaba to open a non-profit AI lab in Hong Kong. The lab is designed to expand the boundaries for AI R&D and also strengthen Hong Kong's position as a global innovation hub. IDG Capital invested in three different funding rounds at SenseTime in 2014, 2016 and 2017.
Hugo Shong, IDG Capital's Global Chairman and a Boston University Trustee, joined BU president Robert A. Brown last week to present Zhang Yimou with an honorary Doctorate. In addition to many famous award-winning films, Zhang also directed an eight-minute performance about 2022 Beijing Winter Olympics, shown during the closing ceremony of the 2018 Pyeongchang Winter Olympics in Seoul. Fengshangshiji Culture Media, an IDG Capital-backed stage design and lighting company, produced the performance. IDG Capital also backed Zhang Yimou's "Impression Series", a popular outdoor series of musicals, which Zhang now co-produces in seven major Chinese tourist destinations.
Zoox, a driverless car startup, is now valued at more than $1 billion. The Menlo Park-based firm plans to launch a taxi-like service and other products in 2020. Starting in 2016, IDG Capital was an early investor in Zoox.