IDG Capital joined a $11 million Series pre-B2 round in EdiGene, a Beijing-based startup which develops genome-editing technologies for the treatment of genetic diseases and cancer. The company is also collaborating now with an unnamed clinical-stage biopharmaceutical company to develop novel T-cell therapies for cancer treatment. Previously, IDG Capital led EdiGene's Series A funding round and also joined an earlier $10 million financing round in the firm.

Ground X, which operates the Klaytn blockchain network, will offer its “klay” tokens on an Upbit cryptocurrency platforms in Singapore and Indonesia. Upbit is a major South Korean cryptocurrency exchange. Ground X said it was also forecasting distribution of 10 billion tokens by the end of 2021. IDG Capital invested in Ground X in 2018. The firm, which has operations in both Japan and South Korea, was founded by Kakao, South Korea’s largest mobile platform.

Bitmain, which designs and manufactures high-performing computer chips and software for the bitcoin industry, recently launched two new miners incorporating application-specific integrated circuits. The company said its new ASIC miners perform faster, more efficiently and more securely than previous models. Bitmain was founded in Beijing in 2013. IDG Capital invested in the firm in 2017.

In an interview, Jeremy Allaire, the CEO of Circle, a Boston-based crypto trading firm, predicted that China’s cryptocurrency plan for the Bank of China would lead to more global convertibility of cryptocurrencies, including coordination with RMB. As more companies develop digital currency services, Allaire also said, the financial sector will begin to compete with the technology. Previously, IDG Capital was the lead investor in Circle’s $50 million Series C and $60 million Series D funding rounds.

The Asia Society named Ctrip CEO Jane Jie Sun to its list of 2019 Asia Game Changers. The annual award program, now in its sixth year, honors individuals who had demonstrated a “transformative impact” on society in Asia and beyond. Ctrip, China's largest travel platform, currently employs more than 45,000 worldwide, of which more than 50 percent are women. IDG Capital was an early investor in Ctrip, which went public on Nasdaq in 2003.

Razer, a $438 million global gaming hardware maker, is marketing a new phone case designed to help stop smartphones from overheating during gaming and other resource-intensive activities. The case features proprietary technology which can dissipate heat. IDG Capital-Accel China invested $50 million in Razer in 2011. Razer, based in Singapore, went public on the Hong Kong Stock Exchange in 2017.

Xiaomi, the world's fourth-largest smartphone manufacturer, is now operating in more than 80 markets outside of China. Founded in Beijing in 2010, Xiaomi has opened more than 1,000 retail outlets overseas – ranging from Mexico City and Dubai to London and Paris. Today, over 40% of Xiaomi’s total revenues are derived from global markets. IDG Capital was an early investor in Xiaomi, which first went public in 2018 with a $52.7 billion valuation.

IDG Capital led a Series A round of financing in Jumeng, a Chinese online crowdsourcing logistics service provider. Jumeng did not disclose how much money it had raised in the Series A, but said the proceeds will help upgrade IT systems and explore cooperation with more logistics parks. The startup will also integrate the company’s resources for the construction of a nationwide logistics network. Founded in 2017, Jumeng now provides large-scale, less-than-load transportation service for relatively small freight deliveries weighing more than 50 kilograms. The company currently operates a sharing transportation system with logistics parks linked to 2,100 inter-provincial trunk lines and 2,200 stores in China. Jumeng said it also plans to expand into 100 cities and 200 logistics parks by 2020. Zhang Yujing, Chairman and President of Jumeng, reported that the firm booked over $111.85 million in monthly gross merchandise volume in August, up 40% from February 2019.

글로벌 패션 아이웨어 브랜드 젠틀몬스터와 글로벌 스마트 기기 브랜드 화웨이의 협업 'GENTLE MONSTER-HUAWEI EYEWEAR' 컬렉션이 6일 정식 론칭을 알렸다. 젠틀몬스터의 트렌디하고 패션적인 디자인과 화웨이의 스마트한 기술력이 만나 출시된 이번 협업 제품은 젠틀몬스터 중국 상해&북경 플래그십 스토어에서 열린 협업 컬렉션 사전 오프닝 행사를 통해 ‘이전에는 없던 패셔너블한 스마트 아이웨어 시장을 새롭게 개척했다'는 평을 얻었다. 아이웨어 브랜드 ‘젠틀몬스터’를 보유한 아이아이컴바인드는 IDG CAPITAL에게 투자 받은 바 있다.

그라운드X가 삼성전자와 협력해 카카오 블록 체인 플랫폼 ‘클레이튼’에 특화된 갤럭시노트10을 출시했다. 클레이튼 기반 블록체인 애플리케이션(비앱)을 경험해 볼 수 있게 기획된 제품으로, 그라운드X는 클레이튼폰 구매자에게 비앱 이용에 사용할 수 있는 클레이 토큰 2천 개를 지급할 예정이다. 그라운드 X는 1차 라운드에서 IDG CAPITAL를 포함하여 20여 곳에서 1000억원 규모의 투자를 받은 바 있다.

카카오의 암호화폐 ‘클레이’가 오는 9월말 암호화폐 거래소 업비트 인도네시아와 업비트 싱가포르에 처음으로 상장된다. 해외 거래소에 첫 상장하는 이유에 대해 카카오 측은 ‘클레이튼’이 아시아 대표 플랫폼을 지향하기 때문에 해외 거래소를 먼저 선택했다고 설명했다. 클레이’는 카카오의 블록체인 플랫폼 ‘클레이튼’에서 활용되는 암호화폐로써, ‘클레이튼’을 개발한 카카오의 블록체인 계열사 ‘그라운드X (Ground X)’은 IDG CAPITAL 등의 벤처캐피털에서 투자 받은 바 있다.

SenseTime, a Hong Kong-based artificial intelligence company, is now valued at more than $7.5 billion after several recent investment rounds. Backed by IDG Capital since its inception in 2014, SenseTime is currently the world’s largest AI startup. Recently, SenseTime also began exploring new AI applications in the semiconductor industry and has spent the past two years developing an AI training chip that may complement industry-leading products from Nvidia Corp. SenseTime said it is also now shoring up its presence in Southeast Asia via Singapore, with a plan to triple staff there within three years. Previously, IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017. In addition to Hong Kong and Singapore, SenseTime has operations in the United States, Japan and China.

Circle International Financial, a Boston-based cryptocurrency marketplace, is raising a $100 million venture capital fund for SeedInvest, the equity crowdfunding startup that Circle acquired in March 2019. The fund will also take advantage of the deal flow coming through SeedInvest, which is based in New York City. Previously, IDG Capital was the lead investor in Circle’s $50 million Series C and $60 million Series D funding rounds.
 

Klaytn, the blockchain network associated with Kakao, a South Korean messaging app, said it is currently evaluating two exchanges possible trading platforms for its cryptocurrency Klay. One exchange is based in China and the other in South Korea. The company is also developing a new wallet product, which will support Klay and will be available on its messaging app KakaoTalk. IDG Capital invested in Klaytn in 2018.

Pinduoduo, a Chinese bulk-buying e-commerce platform, has surpassed search giant Baidu in market valuation, making it the fifth-largest publicly-traded technology firm in China. Pinduoduo currently has a market capitalization of $39 billion, beating Baidu’s $36.7 billion estimate. As the company continues to expand its e-commerce services across China, Pinduoduo has also grown its stock price by 51.3% in 2019 to date, with over a 16.5% gain in the benchmark S&P 500 Index. IDG Capital joined Pinduoduo's Series B funding round in 2016 and Pinduoduo went public on Nasdaq in 2018. IDG Capital was also an early investor in Baidu, which first went public on Nasdaq in 2005.

Plum, an online trading platform for second-hand luxury goods, raised $20 million in a Series B+ funding round. Based in Beijing, the start-up offers film and advertising expertise, sales, and also customer and consignment services to second-hand fashion sellers. During the past six months, the platform has reportedly witnessed a five-fold rapid growth in gross merchandise volume. Plum, to date, has raised a total of $58.4 million in funding through six financing rounds. In 2017, IDG Capital led Plum’s Series A round.