Inceptio, an autonomous driving truck startup backed by IDG Capital, has raised a $188 million funding round. The startup collaborated with domestic original equipment manufacturers (OEMs) to develop China’s first driverless heavy-duty trucks for freight routes across the country. Inceptio said the fresh capital will go towards mass-producing driverless trucks, converting these vehicles from running on gas to electricity, and developing its proprietary full-stack autonomous driving system.

Italian luxury apparel manufacturer Moncler recorded revenues of over 2 billion euros for the year 2021, exceeding by 44% the revenues of 2020. All numbers are the result of the impressive expansion strategy of the brand, which this year has multiplied its collaborations with brands of the Genius project and with international personalities such as Alicia Keys. IDG Capital was an early investor in Moncler, which went public in Milan in 2013.

Farfetch, a London-based online luxury fashion platform, rose its revenue by 35 percent to $2.3 billion in 2021 over 2020, breaking $2 billion for the first time, driven by increased volume on the Farfetch marketplace and sales at Off-White parent New Guards Group. Farfetch has made other bold moves during the pandemic to expand its market share as more luxury sales shifted online, including a partnership with Tmall. IDG Capital led Farfetch's Series F funding round. Farfetch went public on the New York Stock Exchange in 2018.

IDG Capital has led over $15million in Seer Intelligent Technology Corporation (SEER), a company that develops autonomous mobile robot (AMRs) controllers, AMRs and automated guided vehicles (AGVs). The company’s SRC Series Core Controllers are universal AMR controllers that provide AMRs with core functions, like mapping, positioning and navigation. It also allows for model-editing for mobile robots. SEER’s standardized products allow for a variety of applications.

IDG Capital has led a Series A found of financing in DeepMirror, a China-based spatial intelligence technology startup specialized in 3D viewing. The firm is building a 3D metaverse infrastructure with a 1:1 ratio with the Earth and is realizing large-scale MMO games (massively multiplayer online games) or social applications with the real world. The financing proceeds will mainly be used for technology R&D, production, and recruitment. The firm will also soon start round A+ financing.

IDG Capital has partnered with Hong Kong and China Gas Company, the sole supplier of piped-cooking gas to households in Hong Kong, to launch the IDG Towngas Clean Energy Fund to meet carbon neutrality goal by 2060. The fund expects to raise 5 billion yuan, allowing the Hong Kong-listed gas supplier to extend its reach into the smart energy business. The ultimate goal of the fund is to build a platform that attracts different partners to participate in the development of the renewable energy ecosystem.

Easy Transfer, an IDG Capital-backed online financial service platform for more than 100,000 Chinese students studying overseas, has received investment from Tencent, one of the top Internet companies in China. Easy Transfer works with financial institutions with cross-border payments licenses in China and makes the transfer experience hassle-free. The partners have jointly developed a WeChat-based tuition remittance service called WeRemit. IDG Capital was an early investor in both Easy Transfer and Tencent.

ZhenGe Biotechnology, a Shanghai-based contract development and manufacturing organization firm, has completed a Series C financing round of $100 million. Existing investor IDG Capital also participated. To date, ZhenGe has served more than 100 biopharma customers and has completed over 150 projects, ranging from cell line development projects to Investigational New Drug applications. The proceeds will be used to strengthen global R&D capabilities and expand ZhenGe’s manufacturing capacity to better meet demand domestically and internationally.