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IDG Capital has joined a $126 million funding round in Beidian, a Chinese social ecommerce platform that primarily focuses on products that allows users to buy, share and sell maternal and child-related products. Beidian currently has more than 50 million registered users, including 10 million monthly active users. It also processes more than 100 million purchases per business quarter. IDG Capital initially invested in the Beidian in 2017, the year it was founded. Beidian is an offshoot of Beibei Group, a Chinese ecommerce platform and offline retail store conglomerate specializing in maternal care products.
Acadsoc, a Hong Kong-based educational technology startup backed by IDG Capital, raised $14.8 million during a Series C2 funding round, China Money Network reported. Less than three months ago, IDG Capital co-led Acadsoc’s Series C round. Founded in 2013, Acadsoc initially provided one-on-one English-language tutoring services to Chinese families. In 2016, Acadsoc also began offering online English-language courses to both primary and middle school students, as well as adults.