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IDG Capital-backed Anker, a Shenzhen-based consumer electronics manufacturer, is expanding its product offerings. Best known for portable chargers, the company now also develops a wide range of products for the audio, portable security camera, projector, robotic vacuum cleaner and smart car markets. In addition to manufacturing and sales operations Shenzhen, Anker now has offices in Seattle, Tokyo, Dubai and Jakarta.
IDG Capital has co-led Meiwo's Series A funding round. Meiwo, a Hangzhou, China-based home decoration company, applies an Internet-powered approach to its business model, providing an emerging middle class, ages 27 to 35, with quality designs and a dedicated home decor service. Meiwo currently numbers 3,000 families in its customer base. On average, each Meiwo retail store completes 265 design projects per store per month.
IDG Capital joined an $18 million Series A+ funding round in Tikin Media, a Beijing-based advertising company that uses projectors to showcase advertisements in elevators. The company will use the investment to expand market share, deploying 100,000 screens in elevators nationally over the coming year. Tikin now operates 30,000 elevator installations in 50 cities around the world, including many in buildings owned by Fortune 500 companies.
Norway-based web browser Opera has gone public on Nasdaq, debuting at $12 per share. The company, which had a net income of $6.6 million in the first quarter of 2018, serves more than 300 million active monthly users. IDG Capital previously joined the pre-IPO private placement in Opera. Bitmain, an IDG-backed bitcoin mining company, works closely with Opera and also participated in the placement.
Shanghai-based group buying site Pinduoduo has debuted on Nasdaq with an initial valuation of $33 billion. The online bulk-purchasing platform currently serves 343.6 million active buyers, triple last year's buyer base. IDG Capital first invested in Pinduoduo in 2015 and also joined a private funding round this April.
Aurora Mobile, a Shenzhen-based mobile big data solutions platform backed by IDG Capital, has gone public on Nasdaq. Aurora, which had 304% year-over-year revenue growth, provides a broad range of big data services, including financial risk analysis, precision marketing, commercial geography and variety of developer functions. IDG Capital led a Series A funding round in Aurora in 2014.
Fortune's crypto-focused section, Fortune Ledger, had named seven executives from four IDG-backed companies-Coinbase, Ripple, Bitmain and Circle-to its annual "Ledger 40 Under 40" list. IDG Capital was an early investor in Coinbase and Ripple, led Circle's Series C and D funding rounds, and invested in Bitmain in 2017.
Meituan's co-founder and CEO Wang Xing, Coinbase's co-founder and CEO Brain Armstrong, and SenseTime's co-founder and CEO Xu Li have joined Fortune Magazine's "40 Under 40" list. IDG Capital was an angel investor in Coinbase and backed SenseTime and Meituan in 2017.
IDG Capital recently participated in a Series A funding round for Haoyiku, a WeChat-enabled e-commerce start-up based in Hangzhou, China. Haoyiku works with more than 1,000 global suppliers of luxury goods, providing online sellers with trustworthy, discounted brands. IDG Capital previously led Haoyiku's Series A funding round in June.
ASR Microelectronic, a Shanghai-based chipmaker, has closed a $100 million Series B funding round co-led by IDG Capital and Wanrong Hongtu Fund. The company designs and develops chips for mobile communication terminals, Internet of Things applications and consumer electronics. Over the past decade, IDG Capital has invested in a number of innovative semiconductor-related companies, including Bitmain, which designs chips for bitcoin mining.
Zoox, a Foster City, Calif.-based self-driving startup, recently closed a $500 million funding round at a $3.2 billion valuation. The company plans to deploy an electric, autonomous vehicle-powered ride hailing system soon. IDG Capital joined Zoox's Series A funding round in 2016.
IDG Capital has appointed Liu Cixin, a famous science fiction author, as Chief Imagination Officer. "Science fiction, investment, and entrepreneurship seem quite different," said Justin Niu, a Partner at IDG Capita. However, much of Liu Caixin's award-winning writing, Niu said, echoes the forward-thinking of IDG Capital as a leading global investor in venture capital, private equity and mergers and acquisitions. As Chief Imagination Officer, Liu will also serve as the company's brand ambassador.
Nasdaq-listed Baidu has signed an agreement with BMW to develop autonomous driving technology. BMW will join the management board of Apollo, Baidu's open-source auto-driving platform. IDG Capital invested in Baidu in 2000.
Chinese online travel agency Ctrip will provide financial assistance and seven-day paid leave to mid-and senior-level female executives for pregnancy-associated benefits, including freezing of eggs. IDG Capital backed Ctrip in 1999 and 2000, and the company went public on NASDAQ in 2017.
Shanghai-based luxury retailer Secoo has built a strategic partnership with the government of Hainan, a top Chinese resort region and the country's newest free-trade zone, to offer travelers duty-free goods in airports, hotels and online via Secoo's website. IDG Capital previously invested in multiple funding rounds at Secoo, which went public on Nasdaq in 2017. The firm has also recently received a $175 million investment from Chinese e-retailer JD.com and L Catterton Asia, part of French luxury giant LVMH.
Pony.ai has raised $102 million during a follow-on Series A funding round. The Guangzhou, China-and Fremont, Calif.-based auto-driving startup plans to use the investment to further expand its global business, which is now valued at nearly $1 billion. IDG Capital previously joined Pony.ai's record $112 million Series A round.