Snapdeal, Flipkart, Aditya Birla, Future Group and Alibaba are all said to be in talks to buy Rocket Internet-backed Jabong at a steep discount from its 2014 valuation.

The Alphabet and IDG-backed furniture e-commerce marketplace had raised $21m in the past two years but has now ceased operations.

The Kellogg-founded unit will generally invest between $1m and $3m at a time and the impetus behind its launch was the rate of innovation in food technology, Kellogg's vice-president of investor relations told GCV.

Stanford StartX-backed Farm Hill secures $3m in funding round, boosting the food delivery company's total to $4m.

Danone Manifesto Ventures is set to make its first investment, entering talks with food brand Michel et Augustin, reportedly to acquire a stake of up to 40%.

Naspers made its fifth investment in the mobile commerce company, which has just invested $4m in online ticketing platform Sympia.

Virtual Reality Venture Capital Alliance is helmed by HTC Vive and made up of 28 partners including Colopl and Legend Holdings with a total of $10bn in deployable capital.

The online organic grocery subscription service has added new funding to the $30m Scripps Network-backed series A round it closed last year.

AW Virtual Mall, a visual-based e-commerce spinout of Allied Wallet, received the money from payment processor ePayWeb Asia at a $1bn valuation.