Mahindra & Mahindra has agreed to buy a 55% stake in BCC-backed Meru Cabs for $14.5m, in a deal that could reach more than $28m in total.

The fashion-focused e-commerce and media brand raised $40m in a round that was led by corporate-backed existing investor EV Growth.

Alibaba has reportedly put a temporary halt to deals in India to focus while it waits to achieve its first exit in the country.

SoftBank Vision Fund, Naspers Ventures and potentially Tencent are in line to invest in fantasy sports platform Dream11 at a valuation of up to $2.5bn.

Digital Garage and Daiwa Securities are the general partners for DG Lab Fund II, which recently achieved a first close on its way to a $188m target.

The corporate contributed to a series B-plus round for second-hand goods trading platform Plum that will fund marketing and the bolstering of its services.

The online coding course company banked $21m in a round led by New Oriental Group that included Oceanwide Holdings and Baicizhan.

Al Nassar-backed farm-to-plate food provider FreshToHome took its total funding to $33m with a series B round led by Iron Pillar.

The insurance analytics platform, incubated by insurer ZhongAn, has raised cash from Sequoia Capital China and Kuanping Capital.

Existing backer Tencent has reportedly pulled out of a $150m contribution to a round that would have valued the online teaching service at $4.5bn, due to regulatory concerns.