Instant messaging company Line has launched a $42m fund that will seek to fund e-commerce, payment, media, entertainment and online-to-offline companies.

Alibaba will take a minority stake in the smartphone maker, as the two revealed plans to operate more closely as part of a strategic partnership.

Rocket Internet has taken a 30% share in Delivery Hero and a majority stake in HelloFresh, while consolidating all its food delivery platforms into a single entity.

Google-backed fashion rental service Le Tote has closed a series A round featuring property group Simon that took its overall funding to $12.5m.

Online marketplace 11street is set to spin out a Malaysia-focused website with a $10m investment.

E-commerce marketplace Bukalapak has raised an undisclosed amount from Emtek, which joins fellow corporates Gree and Aucfan as an investor in the company.

Mobile commerce company Movile has invested $15m in the local business reviews app, which operates across Latin America.

IDG Ventures India returned to reinvest in the babycare retailer, which has increased its overall funding to $59m.