Belgian precision fermentation company Paleo has successfully raised €12M in a Series A funding round to further their mission of creating sustainable meat and fish alternatives. The grant was led by DSM Venturing and Planet A Ventures, with other investors joining in, including Gimv, SFPIM Relaunch, Beyond Impact, and Siddhi Capital. This injection of funds will help the company scale up its critical ingredient production and move closer to commercial production. The company aims to have its plant-based food with Paleo ingredients on the market by 2025.
Paleo’s innovative technology focuses on myoglobin, a protein responsible for meat and fish’s color, taste, smell, and nutritional value. With this technology, Paleo can create plant-based meat and fish alternatives that are 100% identical to animal proteins and 100% GMO-free. This approach could significantly reduce the environmental impact of conventional meat production, including the production of greenhouse gases, energy, and land use, as well as heavy reliance on antibiotics, hormones, and water.
The company offers a protein portfolio of six species, including beef, chicken, pork, lamb, tuna, and mammoth. Food manufacturers can use these proteins to provide a “real taste” experience for environmentally friendly and cruelty-free meat and fish alternatives. The technology has already been tasted by investors in the funding round, who are thoroughly convinced of its potential.
According to Paleo co-founder and CEO Hermes Sanctorum, the plant-based meat and fish market is poised for growth if consumers find the taste convincing. Paleo’s innovative ingredients offer a game-changing solution by providing a “real” meat experience with vibrant colors, smells, and preferences. These ingredients are vegan and have been tasted by industry expert investors who are thoroughly convinced of their potential.
Paleo is at the forefront of the precision fermentation revolution, a relatively new technology in food production. The company’s focus on sustainability and cruelty-free alternatives aligns with the growing demand for environmentally conscious and healthier food options. With the support of its investors, Paleo is well-positioned to make a significant impact in the food industry and contribute to a more sustainable future.
Image provided by Paleo
