Shein, a women's fashion e-commerce platform reaching tens of millions of customers worldwide, is challenging more established rivals like Zara by offering a near-endless supply of styles at almost impossible price points. Shein sells exclusively online, operating no brick-and-mortar stores. Its app had topped 100 million downloads and counted over 20 million annual users as of 2019. During 2020, Shein logged almost $10 billion in sales. Previously, IDG Capital joined Shein's Series B round.

Chinese online education platform Yuanfudao has secured another $300 million financing, bringing the overall funding of the company in 2020 to $3.5 billion. This is Yuanfudao’s third funding round this year. Founded in 2012, Yuanfudao offers a range of remote learning products, including live tutoring platform Yuanfudao, Zebra AI Class, online question bank Yuantiku, question searching app Xiaoyuan Souti, and arithmetic problem checking app Xiaoyuan Kousuan. 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.

IDG Capital has led a $122 million Series C round of financing round in Rootcloud, a Guangzhou-headquartered IoT platform. Founded in 2016, Rootcloud, formerly a part of Chinese global heavy equipment manufacturing giant Sany Heavy Industry Group, leverages new generation technologies such as cloud computing, big data, AI, 5G network and blockchain to help in the digitalization of the manufacturing industry. This financing round has propelled the platform to unicorn status, with an estimated valuation in excess of $1 billion.

Weimai, an IDG Capital-backed Chinese healthcare solution provider, has secured US$100 million in a series C+ round of funding. Founded in 2015, the platform links users to hospitals and provides a one-stop shop for hospitals to manage their data. The funding from this round will be used to further accelerate the company’s urbanization strategy, expand service coverage, and empower more hospitals, departments, and doctors. Previously, IDG Capital led a $100-million Series C round in Weimai.

Zoox, a Foster City, Calif.-based autonomous vehicle startup, revealed a robotaxi prototype that could spend 16 hours a day offering rides in cities. The vehicle has an unusually large battery of 133 kWh. Zoox is targeting to launch its service in Las Vegas and San Francisco. Founded in 2014, Zoox was purchased by Amazon earlier this year. IDG Capital invested in Zoox in 2016.

Italian luxury apparel manufacturer Moncler is partnering with Extreme E, the new electric off-road racing series that highlights the climate change challenges faced by different ecosystems. Like Extreme E, Moncler aims to be carbon neutral in 2021 and use 100 percent renewable energy by 2023. Through the partnership, Moncler will provide a dedicated uniform for Extreme E’s on-site team. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.

Italian luxury apparel manufacturer Moncler has agreed to acquire Stone Island, a rival maker of high-end sportswear, in a transaction valuing the brand $1.4 billion. Stone Island, founded in 1982, is known for colorful edgy sport jackets with high-tech fabrics and has made garments that change colors depending on temperature. With Stone Island, Moncler is diversifying with a more technical brand and will help Stone Island improve its online distribution. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.

Firework, a Redwood City, Calif.-based short-form video-sharing platform competing with TikTok, has launched a partnership with Jukin Media, a Los Angeles-based entertainment company. The partnership allows Firework to expand its reach to more cutting-edge publishers, businesses, and professional creators through Jukin Media’s content engines. In early 2021, Firework audiences will grow to over one billion. IDG Capital led a $30 million funding in Firework in 2019 and was also an early investor in Loop Now Technologies, Firework's parent firm.

Luminar Technologies, an IDG Capital-backed startup that makes LIDAR sensors for autonomous driving technology, has debuted on Nasdaq, marking the second Silicon Valley firm to go public while working to deliver a key sensor for self-driving cars. Luminar currently has a deal with Volvo, owned by Chinese carmaker Geely, to supply lidar units for consumer vehicles with production starting in 2022. IDG Capital was an early investor in Luminar when the startup was still under stealth mode. Luminar is also IDG Capital’s 10^th portfolio company that has gone public in 2020.

Three Squirrels, China's leading e-commerce snack brand, continues its success on the rise of e-commerce operations and is now targeting offline operations by partnership with Alibaba and Suning. After opening its first offline store in Wuhu in 2016, the brand later also entered Suzhou market through its next offline store in 2017. As of December 2019, Three Squirrels’ annual sales exceeded USD 1.4 billion, making it the first company in China’s snack food industry to surpass the double-digit billion mark in revenue. IDG Capital led Three Squirrels' $1.5 million Series A round in 2012 and also joined its Series B and Series C rounds.

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.

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.