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Coinbase, a San Francisco-based cryptocurrency exchange, is exploring the addition of 19 more tokens and coins as the company aims to tap into the rising popularity of Decentralized Finance (DeFi). New assets will be listed on a country-by-country basis depending on regulatory oversight in each particular jurisdiction. IDG Capital was an angel investor in Coinbase in 2013.
Guangzhou-based electric vehicle (EV) startup Xpeng has raised an additional $300 million. The latest fundraising has taken the total amount raised in the C+ round to more than $800 million. The funds will go towards research in areas such as intelligent vehicle technologies. In 2018, IDG Capital co-led Xpeng's $348 million Series B round.
Chinese food supply chain platform Guoquan completed a $60 million Series C round financing and IDG Capital also joined the round. Founded in 2017, Guoquan supplies food to small and medium-sized catering companies, and also enters the B2C field. Guoquan has achieved business coverage of nearly 4,000 stores in 24 provinces and 327 cities nationwide. This February, IDG Capital also led Guoquan’s $50 million Series B round.
Moncler, the Italian luxury apparel manufacturer and lifestyle brand, is bringing its e-commerce channel in-house to double the share of its online business over the next three years. With online sales accounting for 10% of the 2019 total revenue, Moncler says it will apply artificial intelligence to new areas such as product recommendations, client service interactions, merchandising and pricing. IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.
Opera, a web browsing company based in Oslo, Norway, has hit 170,000 monthly active users engaging with its built-in Ethereum, Tron and Bitcoin wallets. The number is similar to MetaMask, another wallet browser extension provider, which measured 192,000 monthly active users. Founded in 1995, Opera currently has 360 million monthly active users. The company went public on Nasdaq in 2018, raising $115 million. IDG Capital joined Opera's pre-IPO financing round.
Chinese cybersecurity company Qi An Xin Group debuted on China's technology-focused STAR Market, raising $820 million from its initial public offering. Backed by IDG Capital since Series A round, Qi An Xin is IDG Capital's fifth portfolio company that went IPO this year. Qi An Xin said the funds raised from the offering will be invested in the construction of cybersecurity defense systems based on the future network form in the cybersecurity industry.
Chinese medical imaging equipment XpectVision Technology, backed by IDG Capital since 2016, has completed $21 million Series B+ round. Headquartered in Shenzhen, XpectVision mainly develops photon-counting X-ray imaging chips and high-performance whole machine systems in the medical and industrial fields. The company has nearly 400 invention patents applied and obtained worldwide. Previously, IDG Capital led XpectVision's Series A round and also joined its Pre-B round.
Shein, an e-commerce women's fashion platform based in China but with supporting websites and tens of millions of customers worldwide, has become one of the most popular retailers in the UK after deploying TikTok influencers to attract Generation Z. This has created an organic viral effect across the app, helping Shein rank consistently in the top five shopping apps across Apple and Android in both the UK and the US. IDG Capital joined Shein's Series B round in 2016.
Electric vehicle (EV) startup Xpeng has raised $500 million in a Series C+ round to further develop models tailored to China's middle-class consumers. The new proceeds bring the startup's to-date funding announced to $1.7 billion. IDG Capital co-led Xpeng's $348 million Series B round in 2018.
SenseTime, a Hong Kong-based artificial intelligence company, has kicked off the construction of a "New Generation Supercomputing Center" in Shanghai. The facility will begin operations by the end of 2021 and is designed to improve the capability of SenseTime's supercomputing power and the iteration efficiency of its proprietary algorithms. IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017.
IDG Capital-backed online education company Yuanfudao announced it has become the official e-learning service sponsor of the Beijing 2022 Winter Olympic and Paralympic Games. Yuanfudao currently offers a series of online education services, including online tutoring, smart learning and problem analysis, to over 400 million users in China. The sponsorship will help demonstrate China's advanced education technology to the world. IDG Capital, which first invested in the firm in 2012, is the sole investor who has joined each financing round since Series A.
Nasdaq-listed iQiyi, China's dominant online video platform based in Beijing, has been researching the use of facial recognition for the two-dimensional heroes of their shows. Its dataset contains over 400,000 images of more than 5,000 animated characters. iQiyi said the technology could be used for things like automatic editing, filming, advertisement recommendations and computer-aided modeling. Previously, IDG Capital joined iQiyi's $1.53 billion financing round in 2017.
IDG Capital has led a Pre-A round in Shenzhen-based artificial intelligence company SmartMore. Founded in 2019, SmartMore provides AI, 5G and other technology solutions in the field of intelligent manufacturing and ultra-high-definition video. The startup currently has two core offerings - SMore InSight, an intelligent manufacturing solution that solves complex defect inspection problems, and SMore Media, an AI processor for 8K ultra-high-definition video enhancement. Smartmore said the new capital will be used in R&D, recruitment and market expansion.
IDG Capital has led a $4 million Series A round of financing in HyperSKU, a Hong Kong-based B2B solution provider for eCommerce businesses. Founded in 2018, HyperSKU provides backend infrastructure sourcing and fulfillment, a critical factor for online sellers. The startup has grown rapidly due to the logistics demands of eCommerce sellers on Amazon, Facebook, and Shopify.
IDG Capital has led $7 million Series A investment in Beijing-based baby care service provider Haoyun Mama. Founded in 2014, Haoyun Mama trains baby caretakers with its in-house developed standardized courses and also connects the trained caretakers to families with newborns. Since its launch, the company has trained more than 200,000 caretakers. Although affected by the COVID-19 pandemic, the firm still managed to sign up more than 30,000 families since January.
Beijing-based API developer Agora has gone public on Nasdaq, debuting at $20 per share, ahead of its $16 to $18 proposed price range and closed up 153% in its Nasdaq debut. Founded in 2014, Agora is an API-powered company that allows customers to embed real-time video and voice abilities in their applications. In 2015, IDG Capital joined Agora's Series B round.