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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.
Jim Breyer, IDG Capital's Co-Chairman, is leading the team to find“novel ways to leverage technology"?in Africa. Africa represents“fundamental leapfrog opportunities”that is being unlocked through mobile phone usage and other technology development. Highly educated individuals from top academic institutions are returning to Africa, which contributes to the talent pool. In addition to his role at IDG Capital, Breyer is also the Founder and CEO of Breyer Capital in Menlo Park, Calif., which was an early investor in Facebook.
Bilibili, China's Nasdaq-listed answer to Netflix, aired a New Year's Eve countdown gala tailored for Chinese millennials and Gen Z. Partnered with the state-run news agency Xinhua, the show drew 82 million viewers at its peak. The program was the only one among the eight New Year's shows in China that wasn't broadcast on TV. Previously, IDG Capital led Bilibili's Series A funding round and also joined the company's A+ and B rounds.
Razer, a Hong Kong-listed gaming hardware manufacturer, has partnered with Singaporean entrepreneurs and Asian billionaires to apply for a full digital banking license, joining the race to create virtual lenders in the country. According to a Bain & Co. report, Southeast Asia’s digital lending market is expected to grow to $110 billion by 2025. Razer plans to target the youth and millennial segment. Previously, IDG Capital-Accel China invested $50 million in Razer in 2011.
Castbox, a podcast app headquartered in San Francisco with an engineering office in Beijing, leverages the new trend of audio livestreaming, a combination of podcasting and talk radio, to interact with listeners. Listeners can chat live with other listeners, make call-in requests and send emoji reactions. A competitor to audio streaming giants like Spotify and Pandora, Castbox has 28 million users in 175 countries, with more than half of the users in the U.S. Since 2016, IDG Capital has joined several Castbox funding rounds in Castbox.
IDG Capital has joined a $27 million Series B funding round for StradVision, a South Korea-based camera perception software startup for autonomous cars. The firm uses both cameras and lidar sensors to understand objects on the road and aid autonomous vehicle offerings, including automatic emergency braking and blind-spot detection. StradVision currently has more than 105 employees in the United States, Germany, Korea, and Japan.
OL Groupe, owner of the French football club Olympique Lyonnais, has agreed to buy majority ownership of Reign FC, an American National Women’s Soccer League (NWSL) team. The acquisition includes an 89.5% stake in the team worth $3.51 million. OL Groupe said this is its long-term objective and ambition to operate the best women's football club in the world. In 2016, IDG Capital took a 20% stake in Olympique Lyonnais for $110 million.
Club Factory, a Chinese cross-border fashion e-retailer, has grown its registered seller base fourfold in the second half of 2019, crossing 20,000 as of December in India. During the Black Friday Sale, the platform attracted 15,000 orders per day. Hangzhou-based Club Factory said it has become the biggest portal for small and medium enterprises (SME) in India. IDG Capital led a $100 million Series A funding round in Club Factory in 2O18 and previously also joined the firm's Series A round.
Chehaoduo, best known for its leading car trading platform Guazi in China, has made a profit in November and expects to be profitable in Q4, as China continues to push used car sales. The online car retailer is well funded with nearly $715 million and is doubling the cost of repair and reconditioning with no additional cost to customers. IDG Capital joined Chehaoduo's Series C round in 2018.
Pinduoduo, a major Chinese bulk-buying e-commerce platform, is now one of the country's biggest retail disruptors. Competing with Alibaba and JD.com, the firm has begun targeting online customers in the country's mid-sized and“lower-tier" cities by encouraging users to qualify for discounts through recommendation to friends and family. Pinduoduo went public on Nasdaq in 2018 and reported $1.02 billion in revenue in Q3 2018. IDG Capital joined Pinduoduo's Series B funding round in 2016.
Rossignol, a leading winter sports clothing and equipment maker, opens a pop-up store in SoHo New York to showcase new apparel offerings. Based in France, Rossignol had annual sales of $410 million as of March 31, 2019. Apparel accounts for 17% of that figure and 80 percent of its sales come from outside France. This 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.
Bilibili, an IDG Capital-backed Chinese video-sharing platform, is now moving aggressively into the online education market. This year, over 20 million users, or roughly 15% of Bilibili's 128-million user base, accessed the firm's streaming platform for online study activities, reading and recorded tutorials. In November 2018, Bilibili reported total Q3 revenues of $260.1 million, a 72% increase over the same period the previous year. Prior to listing on Nasdaq in 2018, IDG Capital led Bilibili's Series A funding found, and also joined the Shanghai-based company's A+ and B rounds.
Shanghai-based electric vehicle (EV) maker Nio and Guangzhou-based EV startup Xpeng are teaming up to share charging stations and exchange related services in China. Customers can now use each other's charging stations at no extra cost. In addition to Xpeng, Nio also recently partnered with Intel Corp. to design driverless consumer vehicles. Both Xpeng and NIO are IDG Capital-backed startups. Previously, IDG Capital co-led Xpeng's $348 million Series B round and also joined NIO's Series B+ funding round.
IDG Capital-backed Guangzhou HeyGears Intelligent Manufacturing, a Chinese 3D printer company, raised $60 million in a Series B1 funding round. Founded in 2015 and based in Guangzhou, HeyGears produces 3D printing equipment and software solutions for a variety of industries, ranging from dental care to consumer electronics. In November 2018, IDG Capital led a $47 million Series A investment round in the firm.