Sol Cuisine Inc., a Mississauga, ON, Canada-based leader in gourmet plant-based protein foods, closed a $10M equity financing.
The round was led by BDC Capital’s Industrial Innovation Venture Fund, along with existing investors EDC, New Acres, InvestEco, Planted Power, Chairman Mike Fata and CEO John Flanagan. Jonathan Goodkey, Principal with the Industrial Innovation Venture Fund will be joining the Sol Cuisine Board of Directors.
The new funding will enable the company to continue expanding its product innovation and distribution.
Founded by Dror Balshine in 1996 and led by John Flanagan, CEO, Sol Cuisine is a manufacturer of quality gourmet plant-based food products. The company launched one of the first Organic Tofu products in Canada, and since that time has innovated a full range of plant-based products and has expanded distribution to natural and grocery retailers, as well as food service establishments.
Made with plant-based, non-GMO ingredients, Sol Cuisines product line includes; burgers, balls, bites, sausages, fillets and roasts, that are gourmet tasting and world class quality. Sol Cuisine products are currently available in over 4,000 locations, including Whole Foods, Albertsons, Safeway, Target, Kroger, Loblaws, Sobeys and Metro.
The company’s manufacturing facility and R&D lab are based in Mississauga, Ontario, Canada.