Canadian foodtech startups secure US$500K in latest funding

 Canadian foodtech startups secure US$500K in latest funding

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The Canadian Food Innovation Network (CFIN) has announced an investment of US$516,959 in six Canadian foodtech startups. The Network made the investment to fuel six unique foodtech projects in the country through its Innovation Booster program. 

CFIN hopes to especially stimulate innovation, research, and development in the sector through this funding. The chosen projects, with a combined value of just under US$1 million, reflect innovation variety in the Canadian F&B sector. 

These six projects showcase how diverse, innovative, and ambitious Canadian foodtech companies are. These startups are developing novel processes, creating first-to-market technologies, and tackling some of the biggest challenges facing our food sector. Food innovation is thriving across the country and we’re extremely excited about the global potential of these projects.”

Dana McCauley, CEO, Canadian Food Innovation Network

List of Canadian foodtech startups that received the Innovation Booster grant

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1. Impactful Health R&D (Nova Scotia)

Funding: US$100,000

IHRD plans to reduce food waste by developing sustainable active packaging that prolongs the shelf life of raw proteins, starting with fresh fish. The Innovation Booster funding will help IHRD build and test a continuous film coating pilot line at their facilities in Nova Scotia. Active packaging systems allow food to be transported for longer, further minimizing losses and waste associated with food spoilage.

2. CarbonGraph Inc. (Ontario)

Funding: US$96,358

CarbonGraph, an Ontario-based startup, has developed a cutting-edge sustainability platform to automate environmental footprint assessments for food products. The company has tested the platform with Canadian food companies and are now developing a new functionality to capture supply chain data from grocers and food distributors. It will enable them to produce high-quality assessments for individual products, also giving Canadian consumers insight into their dietary choices’ environmental impact. The Innovation Booster funding will allow CarbonGraph to pilot their enhanced platform with the largest food manufacturers, distributors, and retailers in the country.

3. Cibotica Inc. (British Columbia)

Funding: US$90,741

Cibotica, a British Columbia-based foodtech company, is developing a food-safe version of a universal dispensing mechanism using advanced control algorithms. This innovation will optimize the company’s robotic salad and bowl makeline, significantly increasing productivity and efficiency in food service environments. Overall, Cibotica aims to revolutionize salad and bowl preparation, making it faster and more precise for businesses in the food industry.

Also read: Restaurant tech startup bags pre-seed for easy expenses tool

4. Freshline (British Columbia)

Funding: US$83,908

Freshline is developing a B2B e-commerce platform for food distributors and retailers also. The company is improving core functionality, including a turnkey integration tool for seamless connections to suppliers’ platforms. The software streamlines manual tasks, enhancing efficiency and indeed has the potential to revolutionize the industry.

5. New School Foods Inc. (Ontario)

Funding: US$80,526.00

New School Foods has developed a proprietary food scaffolding technology for whole-cut meat alternatives. Moreover, their first product is a plant-based salmon fillet that mimics the look, taste, and texture of conventional salmon. The funding will be used to create equipment that improves the product by creating fillets that closely resemble traditional salmon in particular.

6. ABCO Industries Inc. (Nova Scotia)

Funding: US$64,926

ABCO excels in thermal vegetable blanching with their Heat & Hold Blancher used in 45+ countries. To enhance sustainability and efficiency, they’re developing a new blancher that uses advanced steam delivery and digitized controls. This innovation will reduce costs, besides increase returns, and create a more sustainable blanching process.

Also read: Nova Scotia tech startups get more boost; Propel lands CA$1M

Continued expansion of CFIN’s initiatives for Canadian foodtech startups

This investment is one of the many initiatives taken by CFIN to boost the Canadian food industry. Last year, the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food, announced an investment of up to CA$1.9 million to help CFIN develop a digital food innovation hub. This hub aims to enhance connectivity among players in Canada’s food innovation ecosystem, allowing for increased collaboration, as well as information sharing.

Additionally, earlier this year, CFIN provided more than CA$2.5 million in funding to eight foodtech projects across the food value chain. These projects encompass areas such as supply chain digitization, alternative proteins, and sustainable packaging, reflecting the diversity and scope of innovation in the food industry.

CFIN’s Innovation Booster program offers funding and assistance to SMEs, aiding in product development, overcoming innovation obstacles, and validating market viability. In its fifth round, CFIN finally received 41 applications nationwide. Since 2021, a total of 23 Canadian foodtech companies have received CA$1,872,769 through this program.

Overall, CFIN has approved CA$10.9M for 39 Canadian food innovation projects till date, supporting the growth and advancement of the industry.


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