Shanghai Maishi Biotechnology Co., Ltd. announced that it will receive CNY 20 million in its equity round of funding on May 14, 2024. The transaction will include participation from new investor Shanghai Zhangke Lingyi Qifan Venture Capital Center (Limited Partnership) for CNY 11 million for 5% stake and returning investor, Tellgen Corporation for CNY 9 million. The transaction has been approved by the board of directors of Tellgen Corporation at its fifth meeting of the fourth board of directors.

After the transaction, the registered capital of the company shall increase from CNY 35 million to CNY 38.5 million. Post closing the transaction, Tellgen Corporation will retain its stake from 48.48% to 48.17% in the company. The round is raised at pre-money valuation of CNY 200 million.