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In an interview at the World Economic Forum, Jeremy Allaire, the CEO of Circle, a Boston-based crypto trading firm, predicted the upcoming mass adoption of digital currencies. As the blockchain infrastructure continues improving, Allaire also said, more and more people could use digital currencies in daily life. Previously, IDG Capital was the lead investor in Circle's $50 million Series C and $60 million Series D funding rounds.
Ping An Good Doctor, China's largest healthcare and online medial platform, recorded an increase of 10 times in the number of new registered users between January and February. The platform currently provides free online and telephone consultations to people concerned about Corona Virus. Ping An Good Doctor is targeting 10 million users of the service by 2024. Previously, IDG Capital backed Ping An Good Doctor in 2016 and 2018. The company went public in 2018 with a valuation of $7.45 billion.
SenseTime, a Hong Kong-based artificial intelligence company, is leveraging its super computing resources to help research on large-scale screening of drugs against new coronaviruses. With AI-powered thermal cameras, the company also unveiled AI products that can rapidly detect people who have a fever among those in a crowd. Previously, IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017.
Rossignol, a leading winter sports clothing and equipment maker based in France, is attending the 2020 Outdoor Retailer Snow Show in Denver. The brand unveiled its newly designed Black Ops line of skis, which is designed to reduce vibration throughout. Last June, IDG Capital took a 20% stake in Rossignol. The latest investment also helped Rossignol Group further expand into China, a burgeoning winter sports market that could reach $17 billion by 2025.
Farfetch, a London-based online luxury fashion platform, has raised $250 million from China's top Internet company Tencent. Farfetch will use the capital to continue growing and expanding into new markets, particularly China. Tencent will also help Farfetch reach the market through its WeChat platform. In 2016, IDG Capital led Farfetch's Series F funding round. Farfetch went public on the New York Stock Exchange in 2018 with a valuation of $5.8 billion.
Coinbase, a San Francisco-based cryptocurrency exchange, has named Surojit Chatterjee, a former VP of shopping product at Google, as its chief product officer. Coinbase will aim to make cryptocurrencies a mainstream and easy option for payment, especially in cross-border transactions. IDG Capital was an angel investor in Coinbase in 2013.
Meituan Dianping, an IDG Capital-backed and Hong Kong-listed food delivery giant, launches contactless delivery amid the coronavirus outbreak in China. The new feature allows users to have their food delivered to a designated area without interacting with a courier in person. The company has also installed large meal retrieval cupboards around hospitals in Wuhan. IDG Capital was an early investor in Meituan, which went public on the Hong Kong Stock Exchange in 2018.
OPay, a Nigerian mobile payments firm founded by Opera Ltd., the Norwegian browser company, has become a one-stop mobile platform for payment, transportation, food and grocery delivery, and other important services for people in Nigeria. Millions of users rely on OPay every day to send and receive money, pay bills, and order food and groceries. Last July, IDG Capital, which was also previously a pre-IPO investor in OPay's parent company Opera, led a $50 million investment round in OPay.
Liquid Group, a Tokyo-based crypto-currency trading platform, has partnered with CertiK, a blockchain and smart contract verification platform, to audit potential listings and IEOs on its platform. CertiK will help Liquid detect security vulnerabilities, meanwhile making sure the blockchain ecosystem and smart contracts of projects are hacker-resistant and bug-free at scale. IDG Capital co-led a Series C fundraising round in Liquid last April.
Jiumaojiu, a Chinese cuisine restaurant chain operator headquartered in Guangdong, debuted this week on the Hong Kong exchange, raising $267 million. The company currently operates 287 restaurants and manages 41 franchised restaurants in 39 cities in China and plans to about 370 new self-operated restaurants by 2021. Jiumaojiu said it will use the proceeds to expand the restaurant network, further strengthen the supply and support capabilities, and enhance its centralized procurement system. IDG Capital was an early investor in Jiumaojiu who joined its Series A round in 2014.
IDG Capital has joined a $1.7 million financing round in Korean artificial intelligence (AI) startup MoneyBrain. Founded in 2016, MoneyBrain works towards creating advanced AI and deep learning that resembles humans through video and voice synthesis. MoneyBrain's AI video technology is being implemented in different industries, including broadcasting services, education, entertainment, commerce, and mobile industry.
Firework, a Redwood City, Calif.-based short-form video-sharing platform competing with TikTok, has partnered with Lightstream, a branded content studio owned by Neeraj Bhargava's entertainment firm Rainshine Entertainment. Through the partnership, Lightstream will build branded content and also leverage Firework's intelligence across platforms and its network of creators to provide opportunities for brands to optimize reach and experience short-video formats. Previously, IDG Capital led a $30 million funding in Firework.
IDG Capital co-led a $100 million Series C round in Zhiyun Health, a healthcare provider of chronic patients' long-term management. Founded in 2015, Zhiyun allows patients to record and track their health data and receive healthcare advice from doctors. The startup has expanded its business from the earliest diabetes management to current chronic disease management and online drug prescription and purchase. Previously, IDG Capital also joined Zhiyun's Series A round in 2015.
Pony.ai, an autonomous driving startup based in China and Silicon Valley, has partnered with ON Semiconductor, a Fortune 500 semiconductors supplier based in Arizona, to develop next-generation image sensing and processing technologies. The two companies will work together to make advancements in imaging technologies for autonomous vehicles. Previously, IDG Capital was a seed round investor in Pony.ai and also joined its $112 million Series A funding round in 2018.
Razer, a Hong Kong-listed gaming hardware manufacturer, unveiled its first 5G home router for gaming at CES. Named as Sila, the new product can automatically prioritize bandwidth for gaming and streaming, and also lets users decide the Internet speed distribution. In 2011, IDG Capital-Accel China invested $50 million in Razer. Razer is now listed on the Hong Kong Stock Exchange with around $1.5 billion market cap.
Coinbase, an IDG Capital-backed cryptocurrency exchange, has launched an Android app targeting its professional traders. Coinbase Pro customers in more than 100 countries can use 50 different trading pairs. Previously, IDG Capital was an angel investor in Coinbase.