Canadian plant-based seafood startup Konscious Foods ceased operations earlier this year, AgFunderNews has learned.
Emails to company execs now trigger an automated response explaining that, “Like many in the North American food industry, unforeseen changes in US-Canada trade relations combined with headwinds in the plant-based food sector have significantly impacted Konscious Foods.
“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.”
The main number at the firm’s headquarters is no longer in service and the website is down.
One industry source told AgFunderNews that the firm—which brought in former Daiya CEO Michael Watt as president and COO in early 2025—had been “actively seeking opportunities for funding/merger/re-capitalization” and looking at co-manufacturing opportunities overseas, but had presumably been unsuccessful. “All the employees I knew that worked with them are gone. They are no longer in business.”
Potvin and Watt did not respond to requests for comment.
‘At some point you have to make a profit’
Konscious Foods was founded in 2020 by food industry veteran and classically trained chef Yves Potvin—who built and sold two successful brands: Yves Veggie Cuisine (sold to Hain Celestial in 2001) and Gardein (sold to Pinnacle Foods, now part of Conagra Brands, in 2014).
It raised CAD$26 million ($18.9 million) in mid-2023 from backers including Protein Industries Canada, Zynik Capital and Walter Group, and announced a further CAD $5 million in late February 2025 from federal economic development agency Pacific Economic Development Canada (PacifiCan) although AgFunderNews understands these funds were received much earlier.
The firm, which operated a 34,000 square feet facility in Richmond, British Columbia, made frozen plant-based sushi, onigri snacks, and poke bowls for retail and had also built a foodservice business. The recipes were 100% plant-based, and “organic where possible.”
Speaking to AgFunderNews after announcing the funding round in 2023, Potvin said he hoped to get into 4,500 supermarkets in North America by the end of the year: “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.”
He added: “It’s great to change the world. But you’re still running a business and at some point you have to make a profit.”
The post Exclusive: Canadian plant-based seafood startup Konscious Foods ceases operations appeared first on AgFunderNews.
