NS/TX Industries, the manufacturing technology company behind NEW/SCHOOL FOODS, announced that it has secured $10.5 million in Series A financing and non-dilutive grants to expand its alternative protein manufacturing platform and begin construction of its V2 Assembly Line.
The funding round was co-led by Inter IKEA Development BV and Lever VC, with participation from Good Startup, Verdex Capital, founder Chris Bryson, and non-dilutive funding from Protein Industries Canada. The new capital will support the construction and commissioning of the V2 Assembly Line at the company’s 28,000-square-foot manufacturing facility in Toronto.
According to the company, the automated line is expected to increase production capacity by more than tenfold while further reducing manufacturing costs.
NS/TX launched its V1 commercial assembly line in late 2024. Since then, the company said it has lowered production costs by more than 10 times and validated the scalability of its proprietary texturization and scaffolding technology through hundreds of production trials, machinery upgrades, digital quality assurance enhancements, and process improvements. Those efforts have resulted in new patents and proprietary equipment designs.
The company’s manufacturing platform is designed to address limitations associated with traditional extrusion technologies used in the alternative protein industry. Its scaffolding technology supports the production of whole-cut meat and seafood analogues, including steaks and filets, while allowing for customization of texture, flavor, appearance, and nutritional profiles. The platform also supports the production of products such as burgers and breaded strips.
NS/TX said its technology enables the use of a variety of proteins, fats, flavors, colors, and nutritional ingredients while eliminating the need for methylcellulose. The company’s platform can produce both red meat and seafood alternatives.
The additional capacity created by the V2 Assembly Line is expected to enable NS/TX to provide technology, production, research and development, and co-manufacturing services to brands worldwide.
KEY QUOTES:
“In our mission to support companies leading the next generation of sustainable and affordable products and materials, we have been very impressed with NS/TX’s rapid progress in solving key scale-up challenges and demonstrating the versatility of its manufacturing platform, and we are excited to support them through this next chapter of growth.”
Raffaele Govinazzi, Innovation Ventures Leader at Inter IKEA Group
“NEW/SCHOOL FOODS and NS/TX Industries have been a valuable partner in the development of new technologies and talent in the Canadian food production and value-added agriculture sector. Their continued growth and ability to attract new investment is proof that Canada can build a stronger future for all Canadians, from new food options for consumers to new economic opportunities for Canada.”
Tyler Groeneveld, CEO of Protein Industries Canada
“We’re excited to embark on this next chapter of growth, by automating and scaling our platform, we will be able to produce meat alternatives that are cost-competitive and that finally meet customer demands. With the added capacity that this new assembly line will provide, we will be able to work with leading brands across the globe to make our technology, production capacity, and products available to them.”
Chris Bryson, Founder and CEO of NS/TX Industries
