The funding coincides with the opening of New School Foods’ 28,000-square-foot pilot production facility in Toronto.
Toronto-based plant-based seafood manufacturer New School Foods has raised $6 million (€5.4 million) in a recent funding round, bringing its total capital raised to $18 million.
The round attracted investments from global players including Inter IKEA Group, Good Startup, NewTree Capital, and Hatch.
IKEA generates $2.5 billion in annual food sales, with seafood being its second-largest category after meatballs.
Inter IKEA, responsible for the design, manufacturing, and supply of IKEA products, has invested as part of its strategy to support companies advancing sustainable products. Robert Carleke, innovation ventures manager at Inter IKEA Group, praised New School Foods for its pioneering role in the alternative protein industry, highlighting the company’s innovative production technology.
The facility, equipped with the V1 Commercial Assembly Line, will produce the company’s first commercial product—a plant-based whole-cut salmon filet—expected to launch in U.S. and Canadian restaurants later this year.
New School Foods’ patented scaffolding and directional freezing technologies allow for plant-based products that closely mimic the texture and mouthfeel of traditional seafood, addressing industry challenges in texture and taste parity with conventional meat.
CEO Chris Bryson emphasized the importance of the new facility in reaching commercial scale, marking a critical milestone in the company’s growth. The company plans to continue refining its products through collaborations with chefs in its chef-only pilot program.
Inter IKEA’s investment aligns with its broader sustainability goals, including plans to ensure 50% of main meals offered in its restaurants are plant-based by 2025. Carleke noted that New School Foods exemplifies the type of sustainable innovation that Inter IKEA seeks to support.
