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Belgian food-tech start-up Paleo has raised €2 million to support the commercial scale-up of its animal-free heme proteins, made using precision fermentation.
The company produces animal-free and non-GMO myoglobins – the proteins naturally found in animal muscle that give meat its characteristic red colour and meaty flavour – using fermentation of yeast.
Paleo’s solutions are designed to deliver enhanced flavour, aroma and nutrition for alternative protein products, such as plant-based alternatives to meat and seafood.
Led by food-tech-focused venture capital firm Beyond Impact, the €2 million investment will support Paleo in finalising its regulatory submission in North America and strengthening its relationship with commercial partners.
Hermes Sanctorum, CEO and co-founder of Paleo, told FoodBev Media: “Over the past years, we have significantly increased our productivity while extensively testing and refining our product and formulations with potential customers. Today, we are confident that with Paleo’s myoglobin, we can make the best meat alternative in the world, in a cost-efficient way.”
Read FoodBev Media's The Plant Base ‘Start-up spotlight’ Q&A with Paleo here!
Sanctorum added that the food-tech company is exploring “new and creative routes to market,” stating that the industry needs “new approaches”. One example of this he offers is the nutraceutical space, where myoglobin can provide a source of highly bioavailable heme iron.
Paleo was established in 2020, with a mission of improving animal welfare and environmental sustainability by decoupling its protein production from livestock farming and its associated carbon footprint.
Before founding Paleo, Sanctorum served as a member of the Flemish parliament and the Belgian senate, with a focus on advancing climate action and advocating for animal rights.
