IDG WeChat qr Code
Razer, a Hong Kong-listed gaming hardware manufacturer, unveiled its first 5G home router for gaming at CES. Named as Sila, the new product can automatically prioritize bandwidth for gaming and streaming, and also lets users decide the Internet speed distribution. In 2011, IDG Capital-Accel China invested $50 million in Razer. Razer is now listed on the Hong Kong Stock Exchange with around $1.5 billion market cap.
Meituan Dianping, an IDG Capital-backed and Hong Kong-listed food delivery giant, launches contactless delivery amid the coronavirus outbreak in China. The new feature allows users to have their food delivered to a designated area without interacting with a courier in person. The company has also installed large meal retrieval cupboards around hospitals in Wuhan. IDG Capital was an early investor in Meituan, which went public on the Hong Kong Stock Exchange in 2018.
OPay, a Nigerian mobile payments firm founded by Opera Ltd., the Norwegian browser company, has become a one-stop mobile platform for payment, transportation, food and grocery delivery, and other important services for people in Nigeria. Millions of users rely on OPay every day to send and receive money, pay bills, and order food and groceries. Last July, IDG Capital, which was also previously a pre-IPO investor in OPay's parent company Opera, led a $50 million investment round in OPay.
Liquid Group, a Tokyo-based crypto-currency trading platform, has partnered with CertiK, a blockchain and smart contract verification platform, to audit potential listings and IEOs on its platform. CertiK will help Liquid detect security vulnerabilities, meanwhile making sure the blockchain ecosystem and smart contracts of projects are hacker-resistant and bug-free at scale. IDG Capital co-led a Series C fundraising round in Liquid last April.
Jiumaojiu, a Chinese cuisine restaurant chain operator headquartered in Guangdong, debuted this week on the Hong Kong exchange, raising $267 million. The company currently operates 287 restaurants and manages 41 franchised restaurants in 39 cities in China and plans to about 370 new self-operated restaurants by 2021. Jiumaojiu said it will use the proceeds to expand the restaurant network, further strengthen the supply and support capabilities, and enhance its centralized procurement system. IDG Capital was an early investor in Jiumaojiu who joined its Series A round in 2014.
IDG Capital has joined a $1.7 million financing round in Korean artificial intelligence (AI) startup MoneyBrain. Founded in 2016, MoneyBrain works towards creating advanced AI and deep learning that resembles humans through video and voice synthesis. MoneyBrain's AI video technology is being implemented in different industries, including broadcasting services, education, entertainment, commerce, and mobile industry.
Firework, a Redwood City, Calif.-based short-form video-sharing platform competing with TikTok, has partnered with Lightstream, a branded content studio owned by Neeraj Bhargava's entertainment firm Rainshine Entertainment. Through the partnership, Lightstream will build branded content and also leverage Firework’s intelligence across platforms and its network of creators to provide opportunities for brands to optimize reach and experience short-video formats. Previously, IDG Capital led a $30 million funding in Firework.
Coinbase, an IDG Capital-backed cryptocurrency exchange, has launched an Android app targeting its professional traders. Coinbase Pro customers in more than 100 countries can use 50 different trading pairs. Previously, IDG Capital was an angel investor in Coinbase.
IDG Capital co-led a $100 million Series C round in Zhiyun Health, a healthcare provider of chronic patients’ long-term management. Founded in 2015, Zhiyun allows patients to record and track their health data and receive healthcare advice from doctors. The startup has expanded its business from the earliest diabetes management to current chronic disease management and online drug prescription and purchase. Previously, IDG Capital also joined Zhiyun’s Series A round in 2015.
Pony.ai, an autonomous driving startup based in China and Silicon Valley, has partnered with ON Semiconductor, a Fortune 500 semiconductors supplier based in Arizona, to develop next-generation image sensing and processing technologies. The two companies will work together to make advancements in imaging technologies for autonomous vehicles. Previously, IDG Capital was a seed round investor in Pony.ai and also joined its $112 million Series A funding round in 2018.
Jim Breyer, IDG Capital's Co-Chairman, is leading the team to find “novel ways to leverage technology” in Africa. Africa represents “fundamental leapfrog opportunities” that is being unlocked through mobile phone usage and other technology development. Highly educated individuals from top academic institutions are returning to Africa, which contributes to the talent pool. In addition to his role at IDG Capital, Breyer is also the Founder and CEO of Breyer Capital in Menlo Park, Calif., which was an early investor in Facebook.
Bilibili, China's Nasdaq-listed answer to Netflix, aired a New Year’s Eve countdown gala tailored for Chinese millennials and Gen Z. Partnered with the state-run news agency Xinhua, the show drew 82 million viewers at its peak. The program was the only one among the eight New Year’s shows in China that wasn’t broadcast on TV. Previously, IDG Capital led Bilibili's Series A funding round and also joined the company's A+ and B rounds.
Razer, a Hong Kong-listed gaming hardware manufacturer, has partnered with Singaporean entrepreneurs and Asian billionaires to apply for a full digital banking license, joining the race to create virtual lenders in the country. According to a Bain & Co. report, Southeast Asia’s digital lending market is expected to grow to $110 billion by 2025. Razer plans to target the youth and millennial segment. Previously, IDG Capital-Accel China invested $50 million in Razer in 2011.
IDG Capital has joined a $27 million Series B funding round for StradVision, a South Korea-based camera perception software startup for autonomous cars. The firm uses both cameras and lidar sensors to understand objects on the road and aid autonomous vehicle offerings, including automatic emergency braking and blind-spot detection. StradVision currently has more than 105 employees in the United States, Germany, Korea, and Japan.
Castbox, a podcast app headquartered in San Francisco with an engineering office in Beijing, leverages the new trend of audio livestreaming, a combination of podcasting and talk radio, to interact with listeners. Listeners can chat live with other listeners, make call-in requests and send emoji reactions. A competitor to audio streaming giants like Spotify and Pandora, Castbox has 28 million users in 175 countries, with more than half of the users in the U.S. Since 2016, IDG Capital has joined several Castbox funding rounds in Castbox.
OL Groupe, owner of the French football club Olympique Lyonnais, has agreed to buy majority ownership of Reign FC, an American National Women’s Soccer League (NWSL) team. The acquisition includes an 89.5% stake in the team worth $3.51 million. OL Groupe said this is its long-term objective and ambition to operate the best women's football club in the world. In 2016, IDG Capital took a 20% stake in Olympique Lyonnais for $110 million.