Kungao Micro announced that it has received $30,000,000 in funding on August 16, 2022. The transaction included participation from Beijing Automotive Group Industry Investment Co., Ltd., Beijing Dingxin Capital Co., Ltd., Zhejiang Puhua Tianqin Equity Investment Management Co., Ltd., Yunfeng Capital, Jucheng Capital, SAIC Capital Company Limited, Shenzhen Capital Group Co., Ltd., BOCOM International Holdings Company Limited, and China Capital Management Co., Ltd.