He Xiaopeng, the founder and CEO of Chinese smart electric vehicle (EV) maker Xpeng Motors, bought 2.2 million of the firm’s American depositary shares from the market, as its new SUV launch boosts confidence for future profitability. Xpeng is pinning hopes on its new G9 SUV, due for customer delivery in October, to bolster sales and enhance overall competitiveness in the fast-growing mainland EV market. Xpeng launched the G9 in China on Tuesday, calling it “the world’s fastest-charging mass-production SUV, the industry’s first full-scenario Advanced Driver Assistance System”. IDG Capital joined Xpeng’s Series A+/ C funding rounds in 2017 and 2019 and is also one of the leading investors in Xpeng’s Series B funding round in 2018. Xpeng went public in New York in August 2020 and Hong Kong in July 2021.

Dreame Technology ("Dreametech"), a fast-growing company in smart home cleaning appliances, has officially released the new DreameBot L10s Ultra robot vacuum and mop. With dual rotating mop heads, industry-leading suction, innovative 3D mapping, and a self-emptying dock that washes and dries the mop heads, L10s Ultra is the most hands- and hassle-free floor cleaning robot Dreametech has ever released. IDG Capital is the leading investor in Dreametech’s Series B+ funding round in 2020 and also injected into its’ Series C funding round in 2021.

WeRide, an autonomous driving technology company backed by IDG Capital, will cooperate with local government agencies in Guangzhou to launch green, safe, efficient and intelligent sanitation trucks. These autonomous sanitation trucks can drive safely without any driver, fully carrying out sanitation operations, including washing, dry sweeping, spraying and other functions. From September 1, WeRide’s sanitation truck team will be officially put into operation. IDG Capital joined WeRide’s Series C funding round this May.

IICombined, the owner of South Korean eyewear Gentle Monster, has injected US$15 million into Chinese AR technology startup Nreal. Founded in 2017, Nreal is the producer of AR tech glasses – Nreal Light and Nreal Air. Its glass products are sold in six markets, including the US, Japan, South Korea, Spain and China. Backed by IDG Capital since its early stage, Gentle Monster currently operates 62 stores around the world. “This investment is an exciting attempt to explore the fusion and possibilities of fashion and tech,” said Hankook Lim, co-founder of Gentle Monster.

Electric vehicle (EV) startup Xpeng plans to launch two new vehicles next year, with one positioned to be a competitor to Tesla’s Model Y. Xpeng has been aggressive in launching vehicles as it looks to gain share in China’s fast-growing electric vehicle market. Xpeng President Brian Gu said one vehicle, called B-Class, will launch in the first half of 2023 and is “actually going to target [an] even larger market segment” than the P7 sedan. He said the car can be considered a “strong competitor” to Tesla’s Model Y mid-sized SUV. Previously, IDG Capital co-led Xpeng's Series B round.

Farfetch, a London-based online luxury fashion platform, took a step toward long-awaited consolidation in the luxury e-commerce world, agreeing to buy a big stake in its rival Yoox Net-a-Porter. The deal furthers the rise of Farfetch, which was founded in 2007 and operates both as a retailer and a provider of e-commerce technology. In 2016, IDG Capital led Farfetch's Series F funding round. Farfetch went public on the New York Stock Exchange in 2018 with a valuation of $5.8 billion.

Pinduoduo, a Chinese bulk-buying e-commerce platform, is planning to launch a cross-border platform designed to connect Chinese and overseas suppliers with global customers. Pinduoduo’s new platform will be more of a general marketplace for low-priced household products and other daily necessities, where the company has experience and a competitive advantage. IDG Capital joined Pinduoduo's Series B funding round in 2016. Pinduoduo went public on Nasdaq in 2018.

Zoox, a California-based autonomous vehicle startup backed by IDG Capital and later acquired by Amazon, demonstrated how the Zoox vehicle can predict its surroundings up to eight seconds in the future. These seconds allow the vehicle to react and make prudent and safe driving decisions. Equipped with a variety of sensors, Zoox collects millions of miles of sensor data to train its AI stack. IDG Capital invested in Zoox in 2016.

Chinese electric vehicle maker Nio plans to enter the U.S. market in 2025 and deploy the first Battery Swap Station in the country as soon as this November. During the last NIO Day, held in December 2021, the company said it plans to be in over 25 countries and regions by 2025. The map displayed during the presentation includes countries such as the United States, Australia, France, and Japan. Previously, IDG Capital joined NIO's Series B+ funding round. NIO went public on the New York Stock Exchange in 2018.

Italian luxury apparel manufacturer Moncler is pushing the accelerator on the development of its footwear category, which has become a key strategic priority. The brand will launch its new footwear collection later this month and in September. Although the category is expected to reach about 10% of revenues in 2025, chairman and CEO Remo Ruffini believes footwear is a way to connect with Moncler’s global communities, not only a business driver.

IDG Capital was an early investor in Moncler, which went public on the Milan Stock Exchange in 2013.

Beijing-based Dreame, a smart consumer technology startup that produces premium hairdryers and vacuums, has formed a partnership with ROBOCON 2022. The two entities will develop a comprehensive training plan to prepare upcoming talent soon to enter the robotics industry, in which Dreame will provide technical support throughout the competition. CEO and founder of Dreame Technology, Yu Hao, said, “Robotics has become an independent part of people’s daily life, which will continue to benefit humans in all aspects of entertainment, life, agriculture, medical care, transportation, etc.” IDG Capital invested in Dreame Technology in 2020.

Cider, a Chinese direct-to-consumer (DTC) e-commerce platform back by IDG Capital, has racked up roughly 7.4 million installs across the world to date, relying on China’s responsive clothing manufacturers to sell affordable, trend-led pieces to customers around the world. As of last September, Cider had raised $130 million in funding and crossed the $1 billion valuation point. IDG Capital led Cider’s $10 million angel funding in 2020.

China's leading food delivery app Meituan Dianping, focusing on instant retail born under the digital economy, displayed new products such as automatic delivery vehicles, drones, smart restaurants and smart pharmacies at the 2022 Global Digital Economy Conference. Chen Rongkai, vice president of Meituan, said that under the strategy of “retail + technology”, the company hopes to rapidly promote the retail efficiency of goods and services based on technological innovation in more than 200 scenarios. IDG Capital was an early investor in Meituan, which went public in on the Hong Kong Stock Exchange in 2018.

Singapore-based crypto exchange KuCoin has announced strategic funding of $10 million. In addition to the investment, KuCoin will work on blockchain startup incubation. In particular, KuCoin will support startups through incubation, investment, and consultation. The funds raised will be used to upgrade the infrastructure of KuCoin as well as enrich and diversify its product line. Further, KuCoin is planning to bring more people to the company. IDG Capital co-led KuCoin's $20 million Series A round in November 2018.

Pinduoduo, a Chinese bulk-buying e-commerce platform, has expanded its presence in Hong Kong with new delivery and payment services tailored for local consumers. The Shanghai-based company has recently started to accept foreign payment methods, including Visa and Mastercard, in Hong Kong, making it possible for consumers without a mainland bank account to buy goods on the platform. It also started a direct delivery service to Hong Kong, reducing the effort needed to deal with customs. IDG Capital joined Pinduoduo's Series B funding round in 2016 and Pinduoduo went public on Nasdaq in 2018.

Zoox, a Foster City, Calif.-based autonomous vehicle startup, has announced that it is now certified to meet the highest U.S. crash safety standards and is the first self-driving tech company to do so. Zoox plans to start its service with a purpose-built, four-passenger vehicle that has no steering wheel, pedals or conventional driving controls. To operate its robot on wheels on public roads and move forward with a ride service, Zoox needs additional approval from California’s Department of Motor Vehicles and the U.S. Transportation Department. IDG Capital invested in Zoox in 2016.