The functional food brand “minayo” has received tens of millions of RMB (roughly around USD $5-10 million) in the Pre-A round of financing exclusively invested by Northern Light Venture Capital. The financing will be mainly used for product matrix improvement, market launch, and brand upgrade. Founded in August 2020, minayo has two product lines, “functional food line” and “professional supplement line”, to meet the needs of consumers in different scenarios. After the first batch of minayo’s products went online, the sales exceeded RMB 2 million yuan (USD $300,000) the following month. Among all minayo’s products, the “Chitosan Tablets” ranked the first in Tmall weight management products category, and the “Multi-Vitamin Gummies” was listed in Tmall high-end candy sales rank. (Source: sohu.com)

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