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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.
Italian luxury apparel manufacturer Moncler is reporting a 14 percent increase in first-quarter revenues to $425.1 million, boosted by strong sales to mainland China and South Korea. This marks the 21st consecutive quarter of double-digit growth for the Milan-based fashion firm since its initial public offering in 2013. IDG Capital was an early investor in Moncler, which is now listed on the FTSB MIB, the Italian national stock exchange.
iQiyi, China's leading video platform, is expanding its entertainment offerings to appeal to a larger global audience. The Beijing-based firm, which now has 87 million online subscribers, recently struck a deal with Netflix to broadcast several of its Chinese-made blockbuster films in the U.S. and Europe. IDG Capital first joined a private financing round in iQiyi in 2017. The company is now valued at $20.8 billion on Nasdaq.
Liquid.com, a Tokyo-based crypto-currency trading platform, has released a new mobile app to allow users to execute trades on Android and iOS mobile devices. The firm, which was founded in 2014, said the new app, known as LiquidPro, will help customers track and react more quickly to changes in the cryptocurrency markets. IDG Capital co-led a Series C fundraising round in Liquid this April.
Secoo, a Shanghai-based luxury retailer, is using its partnership with LuisaViaRoma, a Florence-based luxury e-commerce platform, to target China’s booming market for high-end online shoppers. Secoo said it plans to expand its domestic product portfolio by leveraging 600+ luxury fashion brands from LuisaViaRoma. It will also support LuisaViaRoma by providing expertise in mobile payment, order tracking and logistics. IDG Capital previously invested in Secoo's Series A, B and C funding rounds. The firm went public on Nasdaq in 2017. In April, Secoo reported $783.6 million in total revenues for 2018, a 44 percent increase over the previous year.
Razer, a $438 million video gaming company listed on the Hong Kong Stock Exchange, makes laptops, wearables and smartphones. Now, in response to the enthusiastic demands of 44,000 fans – a dozen of whom have posted photos of themselves on Facebook sporting“Razer toaster”tattoos – Razer is also expanding to its own astonishment into the toaster industry. "It will take a few years,”admitted Singapore-born CEO Min-Liang Tan, who thought the toaster suggestion was a joke at first,”but I'll be sure to share the progress – and make it a community affair.”Razer was founded in 2005 in San Francisco. IDG Capital-Accel China invested $50 million in the company in 2011.
Waterdrop Inc., a healthcare crowdfunding startup, is seeking financing at a new valuation of more than $1 billion. Waterdrop said it plans to use its latest funding to automate reimbursements and develop blockchain technology for the Chinese insurance industry. Since its launch in 2016, the Beijing-based medical alternatives provider has already paid out $65.3 million in claims to more than 3,000 of its 70 million active users. Waterdrop also markets traditional insurance products provided by more than 50 third-party financial institutions in China. IDG Capital joined Waterdrop's $74 million Series B funding in March.
Food delivery giant Meituan-Dianping, headquartered in Beijing, is partnering with Chinese ride-hailing players Shouqi Limousine & Chauffeur, Caocao, and UCarinto to offer rider-hailing services throughout the country. Users now can book a taxi or private ride in dozens of Chinese cities where the three ride-hailing firms operate. IDG Capital was an early investor in Meituan, which raised $4.2 billion in its initial public offering on the Hong Kong Stock Exchange in 2018.
Olympique Lyonnais, a French professional football club based in Lyon, promotes gender equality by providing its female players the same treatment and respect as it does its male players, starting with its treatment of girls at the club's Youth Academy. To date, Lyon's women team has already won five Champions League titles, making it the most successful women's team in European history. It also recently claimed its 13th consecutive domestic crown. In 2016, IDG Capital invested $110 million in the football club for a 20 percent stake.
IDG Capital has joined a Series C funding round in Tangdou, a Chinese square dance app targeting middle-aged and older women. To date, Tangdou has raised nearly $100 million. Previously, IDG Capital joined the firm’s $20 million Series B funding round, as well as a Series A investor in BokeCC, the Beijing-based incubator which helped transform Tangdou’s app into a leading entertainment product for senior citizens. Tangdou currently claims more than 200 million users in China. The firm's latest Series C round was led by Tencent, the Chinese Internet giant, in which IDG Capital was also an early investor.
Tongdun Technology, a Hangzhou-based intelligent risk management firm backed by IDG Capital, has raised $100 million. Tongdun's core products – based on artificial intelligence cloud computing and big data – include anti-fraud analysis for a variety of industries, including finance, logistics, healthcare, retail and the Internet. Chinese government agencies are also a Tongdun customer. IDG Capital was an angel investor in Tongdun in 2013 and joined the firm's $320 million Series B+ round in 2016.
Lime, the San Francisco-based electric scooter and bike-sharing provider, announced that its global fleet of scooters and bicycles have completed 50 million trips since the startup first opened its doors in mid-2017. The bike-and-scooter-sharing network currently operates in more than 100 cities on five continents. IDG Capital has backed Lime a unit of Neutron Holdings, since 2017. The firm is now valued at more than $1 billion.
SenseTime, a Hong Kong-based artificial intelligence company, will build an $1 billion artificial-intelligence hub in Malaysia, utilizing robots and speech recognition. Malaysia Prime Minister Najib Razak welcomed the project. SenseTime said it will also provide technology and support to G3 Global, a Malaysian jean manufacturer developing its own AI-based projects. In addition, SenseTime will provide educational materials about AI for Malaysian schools. IDG Capital led SenseTime's initial Series A funding round in 2014 and also joined the company's Series B round in 2017.
Aicha Evans, the new CEO of the California-based driverless car startup Zoox, joins Business Insider's new list of the“Top 100 people Transforming the World of Business.”Zoox plans to launch an autonomous ride-hailing service by 2020. Evans, a former Intel exec, said her key priority now is to prepare Zoox for the product launch, while at the same time ensuring that the firm's autonomous driving technology is safe to deploy. IDG Capital joined Zoox's Series A funding round in 2016.
Serena Williams, one of the world's best-known tennis players, said her venture capital firm is now investing in Coinbase, a San Francisco-based cryptocurrency exchange platform. Since 2012, Coinbase, backed by IDG Capital, has raised a total of $546.6 million. Coinbase's Series E round in October 2018 also raised $300 million, at which time the firm was valued at $8 billion.