据iBrandi品创不完全统计，2025年全年共披露完成116起投融资项目，金额约80亿人民币。 其中，有25起为亿元级别项目。 当然，从表面上看，趋势依旧是"降温"，无论从项目数量还是资金规模来看，这一数据都已是近五年的低位区间。 具体到几个关键品类来看——食品品类披露融资32起，金额约为15亿人民币；饮品品类披露融资16起，金额约为14亿人民币；美妆个护披露14起项目，金 额约为7.7亿人民币；宠物赛道披露完成9起项目，金额约为7亿人民币；智能生活（含AI硬件消费）披露18起，金额超20亿人民币。 具体来看，2025年的食品饮料行业，虽然并未出现需求断崖式下滑，但增长逻辑已经发生转向。就整体消费环境来看，消费者变得更加理性，对价格、稳 定供给与长期品质的关注明显提升；行业整体进入低增速阶段，新品牌突围难度显著加大。 在这样的背景下，资本对食品饮料的参与方式明显改变：对新品牌的早期下注减少；对功能食品、原料端、供应链体系的关注上升；并购、控股，开始比 融资更重要。 比如在2025年的食品饮料项目中，与供应链或是"创新健康食品"相关的有14起，几乎占据半壁江山。供应链层面，进口冻品产业互联网数字化交易平台 「 ...

Core Viewpoint - Marsala (Shanghai) Biotechnology Co., Ltd. has completed a B+ round financing of 108 million yuan, aimed at enhancing R&D and clinical trials for its core products, solidifying its leading position in both clinical and consumer nutrition markets [1][3]. Group 1: Company Overview - Marsala is an innovative company focused on medical nutrition, with a comprehensive product matrix that includes special medical purpose formula foods, energy control weight loss nutrition foods, and DGI foods [1][2]. - The company has developed over 100 SKUs of medical nutrition products and holds 6 special medical permits and FDA registration, catering to diverse population needs from clinical treatment to chronic disease management and daily health interventions [1][2]. Group 2: Product Development and Innovation - Marsala has established specialized R&D centers in Shanghai and Taizhou, continuously innovating across the entire chain from basic formulas to clinical validation [2]. - The company is advancing multiple full-nutrition projects targeting specific diseases such as diabetes, tumors, and surgical trauma, with clinical value and product access efficiency leading the industry [2]. Group 3: Commercialization Strategy - Marsala has built a collaborative model of "in-hospital deep cultivation + out-of-hospital expansion," partnering with over 30 core hospitals nationwide to enhance nutritional services for patients [2]. - The company leverages its clinical resources to enter major retail channels like Bailian, Sam's Club, and Costco, promoting medical nutrition concepts to a broader consumer base [2]. Group 4: Investment and Future Outlook - The recent investment round led by Bailian Group and existing shareholders aims to empower Marsala's business growth through enhanced channel resources [3][4]. - Marsala's founder expressed confidence in the company's ability to innovate and expand its product offerings, contributing to the health of the Chinese population and supporting the Healthy China strategy [3][4].