Shanghai EmbedWay Intelligent Technology Co., Ltd. announced that it will receive CNY 50,000,000 in an equity round of funding on June 29, 2020. The transaction will include participation from returning investor EmbedWay Technologies (Shanghai) Corporation (SHSE:603496) to retain 100% stake in the company. The transaction has been approved in the twenty-fourth meeting of the second board of directors of the investor. Post to the transaction, the registered capital of the company will increase from CNY 30,000,000 to CNY 80,000,000. The investor will invest in tranches over a period of 3 years.