Start the instant pot in sauté mode. Heat 1 tbsp oil and add cumin seeds. (You can do this in parallel while tofu is frying)
When cumin seeds start to splutter, add ginger, garlic, red chili and onions. Sauté for about 2 minutes until onion is lightly browned.
Stir in the tomato, spices and saute for another 2 minutes.
Add water and deglaze the pot. Add in the spinach. Press cancel and close the instant pot lid with vent in sealing position. Set on manual or pressure cook mode for 2 minutes.
Once the instant pot beeps, let the pressure release naturally for 5 minutes, then manually release the pressure.
Blend the spinach and other ingredients in the pot to a creamy texture using an immersion blender.
Add the tofu and let it rest for 5 minutes, so it soaks in the flavors of the curry.
Garnish with coconut or cashew cream if desired. Palak Tofu can be served with naan, roti or paratha.