Rayneo Innovation announced that it has received over CNY 100 million ($14 million) in a round of funding led by new investors Fosun Capital and Zhejiang Rongyi Investment Management Co., Ltd. on March 6, 2023. The transaction also included participation from new investors Sanqi Interactive Entertainment (Shanghai) Technology Co., Ltd., Doctorglasses Chain Co.,Ltd., Weed Ventures, Hainan Yingtian, Runxing Ruihua.