The joint venture will target early-stage logistics services and technologies such as big data, predictive analytics and artificial intelligence.

Tencent was among the investors in a Warburg Pincus-led round that valued the accommodation provider, a spinoff from Lianjia, at $3.1bn.

The neurogenerative disease diagnostics technology developer has secured $11.1m in a ShangPharma and TaiAn Technologies-backed round.

The media and advertising group provided the capital for venture capital firm Spiral Ventures' Asia fund, which has a $50m target.

The GMO and Mastercard-backed business payment technology provider has closed a series B round co-led by Tiger Global and Y Combinator.

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.