New School Foods has successfully completed a $6 million USD Seed Extension round, with contributions from global investors including Inter IKEA, Good Startup, NewTree Capital, and Hatch. This funding builds on previously announced non-dilutive capital from Protein Industries Canada. In addition to this financial boost, the company has officially opened a 28,000 sq. ft. pilot production facility in Toronto, where it will begin manufacturing its whole-cut salmon filet. This new facility, alongside the additional capital, will support New School Foods’ upcoming product launch in restaurants across the U.S. and Canada.
Inter IKEA’s investment in New School Foods aligns with its broader strategy to expand sustainable food options, with a commitment to making 50% of IKEA restaurant menus plant-based by 2025. “New School Foods is a true pioneer in the alternative protein industry,” said Robert Carleke, Innovation Ventures Manager at Inter IKEA. “We are curious to explore and learn more about the potential for plant-based alternatives, and New School Foods’ dedication to sustainability and innovation exemplifies our goals.”
Chris Bryson, CEO of New School Foods, expressed his excitement about the partnership with IKEA, highlighting the positive feedback from initial tastings with chefs and restaurants across North America. “It’s a testament to our team’s commitment to creating a product that amazes both chefs and customers,” Bryson said.
The newly opened facility in Toronto is fully equipped for commercial production, featuring New School Foods’ V1 Commercial Assembly Line. This line utilizes the company’s patented Scaffolding & Directional Freezing technologies, which replicate the muscle fibers and connective tissue that give seafood and meat their distinct texture. The technology is designed to be scalable and versatile, allowing the production of various whole-muscle plant-based products using the same process and equipment. The facility also includes a scientific research lab, engineering lab, and business operations team, fostering collaboration to further develop plant-based products that closely mimic the look, cook, taste, and texture of traditional seafood and meat.
We’ve been hard at work over the last year to achieve commercial scale, said Bryson. Our pilot facility and deployment of our V1 production line mark a critical milestone for our company, enabling us to produce groundbreaking products and bring them to market.
