American multinational retail corporation Wal-Mart has announced its plans to invest $50m in New Dada, a China-based online grocery and logistics company.

The investment is part of Wal-Mart’s plans to increase its focus on the Asia-Pacific region.

US-based virtual reality solutions provider InContext Solutions has raised $15.2m through a funding round led by venture capital firms, Intel Capital and Beringea.

The funding will enable InContext Solutions to expand its virtual reality product portfolio.