Vesta Food Lab announced that it will raised CNY 16,100,000 in equity round of funding on July 7, 2020. The company signed a subscription agreement led by Shanghai Xuerong Biotechnology Co.,Ltd. (SZSE:300511) to subscribe for CNY 14,000,000 for 10% stakes and with Lanhai Asset Management (Hainan) Co., Ltd. to subscribe for CNY 2,100,000 for 1.5% stakes of the company. Post completion of transaction, the registered capital of the company will increase from CNY 1,176,468 to CNY 1,329,362.