Konscious Foods: A Setback for Canadian Plant-Based Seafood

In a disappointing turn for the plant-based food sector, Canadian startup Konscious Foods has ceased operations, as reported by AgFunderNews. The firm, renowned for its innovative plant-based seafood offerings, faced significant challenges this year, stemming from changes in US-Canada trade relations and broader industry headwinds.

Automated email responses from company executives now reveal that “like many in the North American food industry,” Konscious Foods has struggled considerably. The message states, “It is with regret that we share our primary secured lender has issued a demand letter and a notice of intention to enforce their security. This action has ultimately led to the cessation of Konscious operations and the pending transfer of our assets.”

With the main contact number no longer in service and the company’s website down, it’s evident that Konscious Foods has effectively closed its doors. Industry sources suggest that the firm, which appointed Michael Watt—former CEO of Daiya—as its president and COO in early 2025, had been actively pursuing funding and merger opportunities but had ultimately been unsuccessful. “All the employees I knew that worked with them are gone. They are no longer in business,” the source indicated.

Background on Konscious Foods

Founded in 2020 by food industry veteran Yves Potvin, Konscious Foods aimed to revolutionize the seafood market with its plant-based alternatives. Potvin, who had also founded successful brands like Yves Veggie Cuisine and Gardein, brought a wealth of experience to the startup.

The company successfully raised CAD $26 million (approximately $18.9 million) in mid-2023 from notable investors, including Protein Industries Canada and Walter Group. In February 2025, they announced an additional funding boost of CAD $5 million from Pacific Economic Development Canada (PacifiCan), although reports suggest these funds may have been available much earlier.

Product Offerings and Ambitions

Operating out of a 34,000 square-foot facility in Richmond, British Columbia, Konscious Foods produced a variety of frozen plant-based products, including sushi, onigiri snacks, and poke bowls. Remarkably, all recipes were 100% plant-based and made with organic ingredients where possible.

In a statement following their latest funding round, Potvin expressed ambitions to penetrate 4,500 supermarkets across North America by year-end. He asserted, “We are a plant-based business, but that’s not how I think about the competitive set. I’m running a food business; it’s about operations, margins, branding, and consumer trust, and that’s the case whether you’re plant-based or not.”

Lessons Learned

Reflecting on the challenges faced, Potvin noted, “It’s great to change the world. But you’re still running a business and at some point, you have to make a profit.” This sentiment underscores a critical lesson for startups in the plant-based industry: balancing innovation and sustainability with the necessity of profitability.

As Konscious Foods transitions into history, the future of plant-based seafood continues to hang in the balance, bearing witness to both the challenges and triumphs of innovation in the food industry.