NS/TX Industries Raises US$10.5M to Scale Plant-Based Meat
Canadian food technology company NS/TX Industries has raised US$10.5 million in Series A financing and non-dilutive grants to scale its production of whole-cut plant-based meat and seafood.
The Toronto-based company, which operates New School Foods as its consumer brand, plans to use the funding to develop a second-generation automated assembly line at its 28,000-square-foot facility. The new system is expected to be completed in 2027 and increase production capacity to approximately 2,500 kilograms per day.
The financing was co-led by Inter IKEA Development and Lever VC, with participation from Good Startup, Verdex Capital and company founder and CEO Chris Bryson. Protein Industries Canada also committed funding through a separate project supporting the expansion of NS/TX’s manufacturing technology. (Green Queen)
NS/TX originally gained attention for its plant-based salmon under the New School Foods brand but has expanded its technology to produce alternatives to beef and pork. Its manufacturing process uses directional freezing and a plant-based scaffolding system designed to reproduce the structure and texture of animal muscle and connective tissue. (Green Queen)
The company says its technology can be used to produce multiple types of whole-cut products using the same manufacturing platform. It also plans to work with food companies and white-label brands seeking to develop and manufacture alternative protein products.
The latest financing brings NS/TX Industries’ total funding to more than US$30 million and will support efforts to automate production, reduce manufacturing costs and expand the availability of Canadian-made plant-based proteins. (Green Queen)
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