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Lime, a San Mateo, Calif.-based bicycle and scooter sharing startup, has opened an electric scooter operation in Paris. The company currently offers bike and scooter services in 60 cities and university campuses in the U.S., plus dock-free scooters in Berlin, Bremen, Frankfurt and Zurich. Lime says it will expand into 26 European cities by year-end. IDG Capital joined Lime's Series A funding round in 2017.
IDG Capital has joined a $20 million Series B+ round for Beijing-based Huohua Siwei, an online math education platform for children. The company will use the funding to expand operations in Beijing, as well as in Wuhan and Nanjing. IDG Capital previously led Huohua Siwei's Series A funding round.
Moncler, the Italian luxury apparel manufacturer and lifestyle brand, announced in February at Milan Fashion Week that it would collaborate with famed Japanese designer Hiroshi Fujiwara. Fujiwara's new Moncler designs are now available at selected stores in New York, London, Paris, Florence, Tokyo, Seoul and Beijing. IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.
Baidu, the world's eighth largest Internet company, has launched an open-source project to help medical researchers use artificial intelligence to analyze pathology images and detect cancer. IDG Capital invested in the Chinese search engine company in 2000. Baidu went public on NASDAQ in 2005.
Cryptocurrency exchange Coinbase has acquired Keystone Capital, a Chicago-based investment firm, in a bid to become a fully SEC-regulated broker-dealer. Coinbase, headquartered in San Francisco, has traded more than $150 billion in assets across 20 million customers worldwide. The firm also recently launched a new index fund open to accredited U.S. investors. IDG Capital made its first investment in Coinbase in 2012, the same year the firm was founded.
Hong Kong-listed Tencent has added a shopping search function to its popular messaging WeChat app, listing products from JD.com, China's second largest e-retailer. With a market capitalization of $542 billion, Tencent is now Asia's most valuable publically listed company. It currently ranks No. 5 in the world, behind Apple, Alphabet, Amazon and Microsoft. IDG Capital initially invested in Tencent in 2000.
Korean auto manufacturer Hyundai Motor has extended its partnership with Baidu to include autonomous driving projects and extensive map data. In mid-June, KIA Motors also cooperated with Baidu and Tencent Music to exhibit a new infotainment system during the Consumer Electronics Show Asia in Shanghai. IDG Capital was an early investor in both Baidu, which is listed on NASDAQ, and Tencent, which is listed on the Hong Kong Exchange.
Shanghai-based Secoo, Asia’s largest luxury e-retailer, has launched an online and offline butler service. The new service offers exclusive products and other personalized buyer benefits. IDG Capital joined three funding rounds for Secoo from 2011 to 2013. Secoo went public on NASDAQ in 2017.
China travel service provider Ctrip has partnered with Booking.com, one of the world's largest travel booking sites. In addition to sharing hotel inventories, Booking.com's CEO Gillian Tans will also observe Ctrip's board. IDG Capital participated in Ctrip's seed round in 1999 and Series A round in 2000. The company went public on NASDAQ in 2003.
IDG Capital participated in a $36 million Series B+ funding round for EasyLinkin, which delivers solutions to low-power wide area Internet of Things networks. The Wuhan-based firm will use the investment to upgrade technology and expand the Chinese IoT market. IDG Capital previously led EasyLinkin's $23 million Series B round in April.
Hong Kong-listed Tencent and Chinese auto manufacturer Geely will acquire a 49% stake in China Railway Corp's network technology subsidiary. The joint venture will provide domestic WiFi access on China Railway trains. IDG Capital was an early investor in Tencent.
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.
Tencent has formed a strategic partnership with Walmart China. The agreement will boost the U.S. retailer's digital and smart retail capabilities in China with help from Tencent's mobile payment system. Prior to collaborating with Walmart, Tencent invested in the Chinese arm of the French retailer Carrefour. IDG Capital was an early investor in Tencent which first went public in Hong Kong in 2004.
Anker, a Chinese manufacturer of power banks, wall chargers and in-home robotic products, will develop power packs for Nintendo Switch, the top gaming console. Anker says the new power banks can fast-charge Nintendo Switch in less than three hours. IDG Capital invested in Anker in 2016.
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.