Hero Electronix was among the limited partners as venture capital fund Pi Ventures reached a $25m second close on its way to a $30m+ target.

The company has revealed a $7.8m series B and $46.6m series C round, the latter featuring Terminus Technologies and the Focus Media-backed Guangkong Zhongying Capital.

Real estate developer Embassy Group has provided $15.7m for WeWork India, a spinoff of co-working space provider WeWork.

Minsheng Life Insurance has co-led a series B round for Suzhou Zelgen, which is developing drugs for diseases including cancer.

JD.com has invited investors including Hillhouse Capital and Sequoia Capital China, to invest in its logistics subsidiary at a $10bn valuation.

Alibaba has bought $3bn of shares in Ofo from another existing backer, GSR Ventures, according to a relative of GSR's managing director.

The company, which holds the largest share of China's mobile ticket retail market, is backed by Tencent, Meituan-Dianping and Enlight Media.

Hyundai has invested an undisclosed sum in Grab's $2.5bn series G round, which includes SoftBank, Didi Chuxing and Toyota, as part of a strategic partnership.

Industrial and commercial drone developer Autonomous Control Systems Laboratory raised $18.8m in a round that featured University of Tokyo Edge Capital.