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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.
IDG Capital has invested in OneMena, a mobile service provider targeting the Middle East market. The Beijing-based startup currently offers a variety of applications to over 20 Arab countries, including a news aggregator, a photo album and a digital healthcare app.
Home robot manufacturer ECOVACS has raised $135 million through an initial public offering on the Shanghai Stock Exchange. The Chinese company has developed more than 20 in-home robotic products and now operates in more than 30 countries. It also holds 345 trademarks and more than 1,000 patents globally. IDG Capital invested in ECOVACS in 2013.
IDG-backed Coinbase, a cryptocurrency exchange, recently acquired Paradex, a peer-to-peer token trading platform. Since its launch in 2012, the San Francisco-based firm has traded more than $150 million in assets for 20 million customers. CNBC recently ranked Coinbase 10th on its "Disruptor 50" list.
Kr Space, China's leading co-working space operator, will expand its operations into Hong Kong. IDG Capital has previously participated in three Kr Space venture rounds.
SenseTime, an Artificial intelligence (AI) company, recently teamed up with Alibaba to open a non-profit AI lab in Hong Kong. The lab is designed to expand the boundaries for AI R&D and also strengthen Hong Kong's position as a global innovation hub. IDG Capital invested in three different funding rounds at SenseTime in 2014, 2016 and 2017.
Hugo Shong, IDG Capital's Global Chairman and a Boston University Trustee, joined BU president Robert A. Brown last week to present Zhang Yimou with an honorary Doctorate. In addition to many famous award-winning films, Zhang also directed an eight-minute performance about 2022 Beijing Winter Olympics, shown during the closing ceremony of the 2018 Pyeongchang Winter Olympics in Seoul. Fengshangshiji Culture Media, an IDG Capital-backed stage design and lighting company, produced the performance. IDG Capital also backed Zhang Yimou's "Impression Series", a popular outdoor series of musicals, which Zhang now co-produces in seven major Chinese tourist destinations.
Zoox, a driverless car startup, is now valued at more than $1 billion. The Menlo Park-based firm plans to launch a taxi-like service and other products in 2020. Starting in 2016, IDG Capital was an early investor in Zoox.
IDG Capital is co-leading a Series A funding round for Jiatui, a Shenzhen-based company that produces artificial intelligence-empowered products for corporate clients. The firm will use the proceeds from the latest funding round to focus on products, which help manage sales and facilitate business-to-business communication. Jiatui now has 20,000 clients and operations in more than 110 Chinese cities.
With 20 million users and over $20 billion in virtual currencies, Coinbase recently acquired crypto startups Earn.com, Cipher Browser and Paradex, and is now an undisputed leader in the global cryptocurrency industry. IDG Capital was an early investor in the San Francisco-based firm.
Circle has launched USD Coin, a new cryptocurrency designed to mitigate price volatility. Bitmain, China's biggest Bitcoin miner, co-invented the product with Circle and also recently led a $110 million investment in the Boston-based firm. IDG Capital joined the Bitmain-led investment and is an investor in both Bitmain and Circle.
IDG Capital and Hike Capital are co-leading a $15 million funding round in Huohua Siwei, an online platform designed to enhance the critical thinking capabilities of Chinese children, ages three-to ten. The Beijing-based training platform currently employs more 70 teaching and software design staff. Huohua Siwei will use the fund for R&D efforts, plus the construction of several educational centers.
Oil giant BP recently signed a Memorandum of Understanding with NIO Capital, the investment arm of NIO, a Shanghai-and San Jose-based electric vehicle manufacturer. Under the terms of the agreement, the two firms will jointly explore global business opportunities involving electric vehicles and batteries, new energy infrastructure and smart-car systems. IDG Capital recently joined NIO's Series B+ funding round.
Hong Kong-listed Tencent has signed a Memorandum of Understanding with the United Kingdom's Department of International Trade to cooperate on a wide range of digital, cultural and creative projects. Tencent's anime movie business, Penguin Pictures, will also collaborate with the British Broadcasting System (BBC), the national public service broadcaster, for joint production, commercial licensing and film distribution. IDG Capital was an early investor in Tencent.
Nasdaq-listed iQiyi, which signed up over 60 million streaming service subscribers, has formed a partnership with FilmNation Entertainment, a New York and Los Angeles-based film production and distribution firm. The agreement gives iQiyi, based in Beijing, exclusive access to FilmNation content for three years. iQiyi has also previously partnered with Fox, Disney, Sony, and Netflix. IDG Capital joined iQiyi's financing round in 2017.