Manthy, the parent company of the late-night care brand “Release U”, has completed a multi-million RMB (around USD $1 million) seed round of funding, jointly invested by Plug and Play, a leading Silicon Valley venture capital firm, and a domestic biotech company.
Manthy is a newly established functional food company that received support from Nestle R&D accelerator in 2020, and has incubated its functional food sub-brand “Release U”, which mainly provides solutions for the post-90s and post-95s young people to take care of their late-night stay-ups. Its main product “Release U Probiotics” has gained more than 10,000 seed users since the launch of “Dad’s Review” this year. Moreover, new products such as probiotic Konjac jelly and stay up late hyaluronic acid water drink were launched. (Source: 36Kr)