Zhonghao Xinying (Hangzhou) Technology Co., Ltd. announced that it has raised hundreds of millions in a round of funding led by returning investor, Suzhou Kingswood Education Technology Co., Ltd. on May 17, 2023. The transaction also included participation from new investors such as Insigma Technology Co., Ltd., Hangzhou RiverHill Changfan Equity Investment Partnership Enterprise (L.P.), a fund managed by RiverHill Fund, Zhejiang Cybernaut Equity Investment Management Co., Ltd., Icy Capital and Wiseman Capital Management, LLC.