More than 20 corporate backers are due to score exits through an offering that could value the online consumer services portal at nearly $29bn.

The corporate divested about 10% of its shares in the NYSE-listed online marketplace having already sold almost $1.7bn in shares six months ago.

Unfavourable market conditions have scuppered the corporate-backed consumer credit company’s planned reverse takeover as it opts instead for more private funding.

Legend Capital and Sunshine Insurance were among the investors in a $91.1m round for the text recognition software developer.

SAIC Motor’s Hengxu Capital helped allosteric drug developer Nutshell Therapeutics close a $40m round while cancer therapy developer Impact Therapeutics secured series D1 funding.

The Tencent, Naspers and BCC-backed online education services provider was valued at $22bn in its latest round as it prepares its initial public offering.

The quick grocery delivery service formerly known as Grofers has completed the first tranche of a $400m round having received funding from returning investor Zomato.

NGT HealthCare II Impact Fund has raised a $92m fund with T3 and Hadassit joining as strategic partners.

BMW i Ventures, Continental, Knorr-Bremse and VinFast were among the investors that helped the autonomous driving software provider close its latest funding round.

Lunar expanded its series D round to $307m while RefleXion Medical raised $80m and Silent Eight raked in $40m.