The Toronto-based company is developing a plant-based filet it claims looks and cooks like wild-caught salmon. Lever VC led the round, with Blue Horizon, Hatch, Good Startup, Alwyn Capital and Joyance Partners participating. CEO Chris Bryson told The Logic a significant portion of the funding comes from government grants, but said he could not divulge details until later this month. (The Logic)

Talking point: New School’s pitch is that other plant-based meat alternatives use high-temperature methods that pre-cook the food, making its texture less palatable. The company says its proprietary process, however, can imitate the size, strength and direction of muscle fibers in real fish. “We need to get to the point where we have products that don’t feel like they’re a compromise … we need to first close the sensory gap,” said Bryson. He said the company has been working with restaurants in Canada and the U.S., with plans for a public release in 2024.