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Hong Kong-listed Tencent has added a shopping search function to its popular messaging WeChat app, listing products from JD.com, China's second largest e-retailer. With a market capitalization of $542 billion, Tencent is now Asia's most valuable publically listed company. It currently ranks No. 5 in the world, behind Apple, Alphabet, Amazon and Microsoft. IDG Capital initially invested in Tencent in 2000.
Korean auto manufacturer Hyundai Motor has extended its partnership with Baidu to include autonomous driving projects and extensive map data. In mid-June, KIA Motors also cooperated with Baidu and Tencent Music to exhibit a new infotainment system during the Consumer Electronics Show Asia in Shanghai. IDG Capital was an early investor in both Baidu, which is listed on NASDAQ, and Tencent, which is listed on the Hong Kong Exchange.
Shanghai-based Secoo, Asia’s largest luxury e-retailer, has launched an online and offline butler service. The new service offers exclusive products and other personalized buyer benefits. IDG Capital joined three funding rounds for Secoo from 2011 to 2013. Secoo went public on NASDAQ in 2017.
China travel service provider Ctrip has partnered with Booking.com, one of the world's largest travel booking sites. In addition to sharing hotel inventories, Booking.com's CEO Gillian Tans will also observe Ctrip's board. IDG Capital participated in Ctrip's seed round in 1999 and Series A round in 2000. The company went public on NASDAQ in 2003.
IDG Capital participated in a $36 million Series B+ funding round for EasyLinkin, which delivers solutions to low-power wide area Internet of Things networks. The Wuhan-based firm will use the investment to upgrade technology and expand the Chinese IoT market. IDG Capital previously led EasyLinkin's $23 million Series B round in April.
Hong Kong-listed Tencent and Chinese auto manufacturer Geely will acquire a 49% stake in China Railway Corp's network technology subsidiary. The joint venture will provide domestic WiFi access on China Railway trains. IDG Capital was an early investor in Tencent.
Tencent has formed a strategic partnership with Walmart China. The agreement will boost the U.S. retailer's digital and smart retail capabilities in China with help from Tencent's mobile payment system. Prior to collaborating with Walmart, Tencent invested in the Chinese arm of the French retailer Carrefour. IDG Capital was an early investor in Tencent which first went public in Hong Kong in 2004.
Anker, a Chinese manufacturer of power banks, wall chargers and in-home robotic products, will develop power packs for Nintendo Switch, the top gaming console. Anker says the new power banks can fast-charge Nintendo Switch in less than three hours. IDG Capital invested in Anker in 2016.
IDG Capital has led Series A+ funding round in Zailouxia, a Beijing-based firm which operates fresh-goods vending machines in hundreds of Chinese residential communities. The IDG Capital investment follows an earlier investment in the Zailouxia's Series A round. More than 100,000 thousand residents currently use the firm's vending machines in the Beiing area alone.
Ranked No.10 on the Forbes Global 2000 list, Ping An, the world's second largest insurer, is creating new financial technology products in China The Shenzhen-based insurance-finance giant is now pursuing a technology-centric strategy, incorporating cloud services, artificial intelligence and blockchain technology. Ping An has also launched a variety of online health initiatives, including Ping An Good Doctor, a healthcare portal with 30 millionactive users. IDG Capital was an early investor in Ping An God Doctor, which recently raised $1.1 billion on the Hong Kong Exchange.
Ethereum wallet imToken is moving its headquarters from China to Singapore, as it expands globally. In one year’s time, the cyrptocurrency firm has accumulated $35 billion in assets. IDG Capital, whose cryptocurrency portfolio now includes Coinbase, Ripple, and Circle, recently invested $10 million in imToken.
Rokid, a Hangzhou-based artificial intelligence firm, is developing both AI chipsets and AI operating system-based products. In January, the company debuted augmented-reality glasses at the Consumer Electronics Show and plans to release an upgraded version soon. IDG Capital has participated in all four funding rounds since Rokid was founded in 2014.
IDG Capital recently increased its investment in Rossignol Group, one of the world's top outdoor sports brands, and now holds a 20-percent ownership. Founded in 1907, Rossignol Group, based in France, produces products for the winter sports, golf and cycling industries and has sponsored multiple Winter Olympic champions since 1924. IDG Capital's latest investment will help Rossignol Group further expand into China, a burgeoning winter sports market which could reach $17 billion by 2025.
Cryptocurrency leader Coinbase has launched operations in Japan as part of a recent initiative to globalize its business. The San Francisco-based company said it will also work with the Japanese Financial Service Agency to ensure local compliance. IDG Capital was an early investor in Coinbase.
IDG Capital recently invested $10 million in imToken, the world's largest Ethereum wallet. The latest investment will help fund imToken's global expansion and improve its security features. The startup currently has 4 million users and houses $35 billion in crypto assets. The Hangzhou-based startup is IDG Capital's latest addition to a cryptocurrency portfolio which also includes Coinbase, Ripple, and Circle.
Artificial intelligence startup SenseTime has raised more than $1.2 billion, including $620 million through its most recent financing round. The Hong Kong-based company is now valued at more than $4.5 billion and has 700 enterprise clients globally, including Honda, Nvidia, UnionPay and Huawei. IDG Capital joined SenseTime's Series B in 2017.