Luminar, a Florida-based startup that makes LIDAR sensors and other components essential for autonomous driving technology, is merging with Gores Metropoulos, a company sponsored by an affiliate of The Gores Group, a global investment firm. The combined company will have an “implied pro forma enterprise value” of approximately $2.9 billion and an equity value of $3.4 billion at closing. IDG Capital was an early investor in Luminar.

Firework, a Redwood City-based video-sharing start-up, has launched Open Story Page (OSP), providing a way for creators to monetize content without follower base requirements. Firework will expand its reach beyond the company's app by leveraging the Web to increase the content's visibility through multiple sources. Previously, IDG Capital led a $30 million funding in Firework and was also an early investor in Loop Now Technologies, Firework's parent firm.

IDG Capital-backed chipmaker VeriSilicon debuted on China's technology-focused STAR Market, raising $3 billion from its initial public offering. Founded in 2001 and headquartered in Shanghai, China, VeriSilicon has five design and R&D centers in China and the United States. Funds raised from the IPO will focus on R&D, including for consumers devices, as well as a “custom SoC platform for the smart cloud” and “R&D center upgrading projects”. IDG Capital joined VeriSilicon’s Series A round and the company has become the 6^th company going public in 2020.

Xiaomi, the world's fourth-largest smartphone manufacturer, will enter Hong Kong's Hang Seng Index next month. The company, along with IDG Capital-backed delivery platform Meituan Dianping, will also join the 'H-share' Hang Seng China Enterprises Index, which represents Chinese companies listed in Hong Kong. IDG Capital was an early investor in Xiaomi, which first went public in 2018 with a $52.7 billion valuation.

Waterdrop, a Beijing-based healthcare crowdfunding startup, has raised about $200 million to bankroll its expansion in healthcare crowdfunding, reaching a valuation of $2 billion. With more than 250 million users, Waterdrop works with 28 insurance companies including some of China’s biggest names. In 2018, IDG Capital joined a $74 million Series B funding round in Waterdrop.

Bilibili, an IDG Capital-backed Chinese video-sharing platform, has attracted YouTube stars launching official channels on Bilibili’s platform. The platform has as seen rapid growth in recent years, hitting a record 172 million monthly active users in May. Bilibili now hosts channels from content creators such as producer and musician Kurt Schneider, DJ Marshmello and animator Alan Becker. Prior to Bilibili’s listing on Nasdaq, IDG Capital led Bilibili's Series A funding round and also joined its A+ and B rounds.

Opera, a web browsing company based in Oslo, Norway, has hit 170,000 monthly active users engaging with its built-in Ethereum, Tron and Bitcoin wallets. The number is similar to MetaMask, another wallet browser extension provider, which measured 192,000 monthly active users. Founded in 1995, Opera currently has 360 million monthly active users. The company went public on Nasdaq in 2018, raising $115 million. IDG Capital joined Opera's pre-IPO financing round.

Coinbase, a San Francisco-based cryptocurrency exchange, is exploring the addition of 19 more tokens and coins as the company aims to tap into the rising popularity of Decentralized Finance (DeFi). New assets will be listed on a country-by-country basis depending on regulatory oversight in each particular jurisdiction. IDG Capital was an angel investor in Coinbase in 2013.

Guangzhou-based electric vehicle (EV) startup Xpeng has raised an additional $300 million. The latest fundraising has taken the total amount raised in the C+ round to more than $800 million. The funds will go towards research in areas such as intelligent vehicle technologies. In 2018, IDG Capital co-led Xpeng's $348 million Series B round.

Chinese food supply chain platform Guoquan completed a $60 million Series C round financing and IDG Capital also joined the round. Founded in 2017, Guoquan supplies food to small and medium-sized catering companies, and also enters the B2C field. Guoquan has achieved business coverage of nearly 4,000 stores in 24 provinces and 327 cities nationwide. This February, IDG Capital also led Guoquan’s $50 million Series B round.

Moncler, the Italian luxury apparel manufacturer and lifestyle brand, is bringing its e-commerce channel in-house to double the share of its online business over the next three years. With online sales accounting for 10% of the 2019 total revenue, Moncler says it will apply artificial intelligence to new areas such as product recommendations, client service interactions, merchandising and pricing. IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.

Chinese cybersecurity company Qi An Xin Group debuted on China's technology-focused STAR Market, raising $820 million from its initial public offering. Backed by IDG Capital since Series A round, Qi An Xin is IDG Capital’s fifth portfolio company that went IPO this year. Qi An Xin said the funds raised from the offering will be invested in the construction of cybersecurity defense systems based on the future network form in the cybersecurity industry.

Chinese medical imaging equipment XpectVision Technology, backed by IDG Capital since 2016, has completed $21 million Series B+ round. Headquartered in Shenzhen, XpectVision mainly develops photon-counting X-ray imaging chips and high-performance whole machine systems in the medical and industrial fields. The company has nearly 400 invention patents applied and obtained worldwide. Previously, IDG Capital led XpectVision’s Series A round and also joined its Pre-B round.

Shein, an e-commerce women's fashion platform based in China but with supporting websites and tens of millions of customers worldwide, has become one of the most popular retailers in the UK after deploying TikTok influencers to attract Generation Z. This has created an organic viral effect across the app, helping Shein rank consistently in the top five shopping apps across Apple and Android in both the UK and the US. IDG Capital joined Shein's Series B round in 2016

Electric vehicle (EV) startup Xpeng has raised $500 million in a Series C+ round to further develop models tailored to China's middle-class consumers. The new proceeds bring the startup's to-date funding announced to $1.7 billion. IDG Capital co-led Xpeng's $348 million Series B round in 2018.

IDG Capital-backed online education company Yuanfudao announced it has become the official e-learning service sponsor of the Beijing 2022 Winter Olympic and Paralympic Games. Yuanfudao currently offers a series of online education services, including online tutoring, smart learning and problem analysis, to over 400 million users in China. The sponsorship will help demonstrate China's advanced education technology to the world. IDG Capital, which first invested in the firm in 2012, is the sole investor who has joined each financing round since Series A.