A fund affiliated with payment processor Lakala has invested in IT and office equipment supplier Edianzu in a round that took its total funding to almost $80m.

The Tencent-backed online cosmetic surgery marketplace has added an undisclosed nine-figure renminbi sum to the $60m it raised in January.

Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.

The personal finance management app developer has filed for an initial public offering in Hong Kong, with InTime, JD.com and SIG in line for exits.

Reliance Industries has agreed to merge its digital music platform, JioMusic, with streaming service Saavn, investing up to $100m in the combined business.

Ultimately, those unwilling or unable to compete at the top end of creating market-leading companies risk effectively bringing a knife to a gun fight - they can win sometimes in some areas, but the chances might be against them.

The local services platform is exploring an IPO in Hong Kong at a $60bn valuation, setting up Tencent, Priceline, Xiaomi, Fosun and Wanda for exits.

Naspers, which invested $32m in the internet group in 2001, three years before its IPO, will reduce its stake from 33.2% to 31.2%.

Corporates Shougang and Intime Retail invested a series B round for EV developer Chehejia Information Technology, which is also backed by Leo Group.