Chinese leading electric vehicle manufacturer NIO is now close to $10 billion more valuable than U.S. auto industry stalwart General Motors, with a market cap over $65 billion. NIO has made some changes to its business model that appear to have improved sales. The company also receives subsidy support from Beijing as the government sets a target for new energy vehicles (NEVs) to account for 20% of China’s auto sales by 2025. Previously, IDG Capital joined NIO's Series B+ funding round. NIO went public on the New York Stock Exchange in 2018.

IDG Capital has led a $80 million Series B round in PTM Biolabs, a Hangzhou-based firm that develops proteomics technology to help diagnose and treat human diseases. Founded in 2010, PTM Biolabs uses proteomics technology to examine profiles of proteins, histone epigenetic marks, and protein post-translational modifications. Apart from its headquarter in China, the company also has offices in Chicago.

Online luxury fashion platform Farfetch launched “Luxury New Retail,” a key initiative for the partners that seeks to digitize the global luxury business. The strategy brings a level of interconnectedness that allows a brand to serve its patrons based on a comprehensive view of the individual’s tastes, preferences, buying or browsing habits, blurring the line between online e-commerce and offline retail. The company will also leverage the technology partnership with Chinese ecommerce giant Alibaba. In 2016, IDG Capital led Farfetch's Series F funding round.

Online luxury fashion platform Farfetch launched “Luxury New Retail,” a key initiative for the partners that seeks to digitize the global luxury business. The strategy brings a level of interconnectedness that allows a brand to serve its patrons based on a comprehensive view of the individual’s tastes, preferences, buying or browsing habits, blurring the line between online e-commerce and offline retail. The company will also leverage the technology partnership with Chinese ecommerce giant Alibaba. In 2016, IDG Capital led Farfetch's Series F funding round.

Online luxury fashion platform Farfetch launched “Luxury New Retail,” a key initiative for the partners that seeks to digitize the global luxury business. The strategy brings a level of interconnectedness that allows a brand to serve its patrons based on a comprehensive view of the individual’s tastes, preferences, buying or browsing habits, blurring the line between online e-commerce and offline retail. The company will also leverage the technology partnership with Chinese ecommerce giant Alibaba. In 2016, IDG Capital led Farfetch's Series F funding round.

Farfetch, an online luxury fashion platform based in London, has secured $1.1 billion in investment from Chinese tech giant Alibaba and Swiss watch and jewelry group Richemont, which it will use to expand in the fast-growing luxury goods market in China. As part of the partnership, Farfetch will help fashion and upmarket brands launch their own online stores on Alibaba’s Tmall Luxury Pavilion and Tmall Global. The two platforms already attract millions of Chinese shoppers. Previously, IDG Capital co-led Farfetch's Series F funding round in 2016.

Zhiketong, a digital marketing provider offering SaaS-supported transaction services to four and five-star hotels in China, has raised $50 million in a Series D funding round. Founded in 2014, Zhiketong is designed to be a specialist in software-as-a-service (SaaS) and internet-driven digital marketing services. Proceeds from the current round will be used for product and service innovations, market expansion, business development and digitalization transformation. Previously, IDG Capital joined Zhiketong’s Series C round.

Pony.ai, an autonomous driving startup based in China and Silicon Valley, has received investment from automaker FAW group, making it the first strategic investment by a Chinese state-owned vehicle manufacturer into an autonomous-technology company. Pony.ai technology will be used in a vehicle platform that forms the basis of FAW’s Red Flag-branded electric cars. Pony.ai will also work with FAW’s Jiefang arm, the first time its technology will be used in trucks. IDG Capital was a seed investor in Pony.ai and also joined a $112 million Series A funding round in 2018.

Real-time communications software developer Zego, China’s answer to Zoom, has raised $50 million investment led by Tencent. Existing backer IDG Capital also joined this round and has become Zego’s largest institutional investor. Founded in 2015 by former Tencent QQ head, Zego offers real-time voice and video technology that powers game streaming platforms, online classes and, increasingly, enterprises that had to adapt to remote work during and after Covid-19 disruptions. In 2015, IDG Capital led Zego’s $3.5 million Series A financing round. IDG Capital was an early investment in Tencent in 1999.

IDG Sports has announced a 10-year commercial partnership with the International Ski Federation (FIS) to promote the Get into Snow Sports (GISS)-China grassroots program. Changsha Shangxue Sports, IDG’s operational company, is set to handle the implementation of the program, including developing a campus course focused on Chinese schools and introducing more children to snow sports. "IDG Capital and IDG Sports are not only investors in the GISS-China Program but also the exclusive operator and promoter… We are committed to promoting the sustainable and stable development of snow sports and the snow industry in China in the long-term,” said Li Zhang, VP of IDG China.

In an interview, Wayne Ting, the CEO of Lime, a leading electric scooter and bike-sharing provider, says that Lime’s riders are coming back; the company just announced it has reached the milestone of 200 million rides. Lime expects to achieve another milestone in 2021: becoming profitable. By aggregating more types of small electric vehicles into its platform, the company hopes to become a “one-stop-shop for anyone looking to take a car-free trip under five miles,” Ting has said. IDG Capital joined Lime's Series A funding round in 2017.

The Chinese online video giant iQIYI has made a no-cash offer to license content from US-based short-form streaming service Quibi. The proposal is the Quibi to provide license to the joint venture for no upfront cost and in return for a future profit share if the joint venture generates any potential income from this licensed content. Previously, IDG Capital joined iQiyi's $1.53 billion financing round in 2017.

IDG Capital-backed edtech platform Yuanfudao has landed $2.2 billion in funding, bringing the company’s valuation to $15.5 billion and surpassing Byju’s as the most valuable edtech company in the world. Founded in 2012, Yuanfudao offers live courses and provides tutoring options for students. The new proceeds will allow the company to expand its online edtech system and develop new curriculum products. IDG Capital, which first invested in the firm in 2012, is the sole investor who has joined each financing round of Yuanfudao since Series A.

Moncler, the Italian luxury apparel manufacturer and lifestyle brand, is mapping out its commitment to sustainability under its Born to Protect Sustainability Plan until 2025. The plan focuses on five strategic drivers: climate action; circular economy; fair sourcing; enhancing diversity and giving back to local communities. In the past three years, the company has aided around 45,000 children in difficult situations in some of the world’s coldest areas as part of the Warmly Moncler project for UNICEF. IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.

EdiGene, a Beijing-based company that uses genome-editing technologies to treat genetic diseases and cancer, has raised $67 million in Series B funding. IDG Capital also joined this funding round. Proceeds from the financing will be used to advance the company’s pipeline into clinics and to expand the team. “The round enables us to further scale up and transform our pipeline into clinical-stage, which is also a big step forward in building a globally competitive gene editing company,” said Dong Wei, Ph.D.，CEO of EdiGene. Previously, IDG Capital led EdiGene's Series A funding round and a $10 million funding round.

Huohua, a Beijing-based online education platform specialized in math and science teaching, has announced the completion of $100 million Series E2 round led by Chinese tech giant Tencent. This has brought the amount raised by Huohua in seven rounds of fundraisings to $440 million. Huohua, founded in 2017, curates AI-driven online and interactive mathematics and science courses mainly for students aged between three and 12 years. IDG Capital was an early investment in Tencent in 1999 and also joined Huohua’s multiple financing rounds.