Toronto-based food manufacturing company NS/TX Industries has raised $10.5 million in Series A funding and non-dilutive grants to automate its whole-cut protein manufacturing process. The funding, co-led by Inter IKEA Development BV and Lever VC, will be used to construct a new automated assembly line at the company's facility in downtown Toronto.

The new V2 Assembly Line will increase production capacity by more than tenfold, allowing NS/TX to scale its alternative protein manufacturing platform. The company's proprietary texturization and scaffolding process aims to overcome the limitations of conventional extrusion, enabling the production of red meat and seafood analogues in various formats. With over $30 million raised in total, NS/TX plans to work with leading brands globally to make their technology and products more widely available.