Paleo B.V.

Paleo B. V. is a Belgian company specializing in the production of sustainable animal protein alternatives through precision fermentation, delivering innovative solutions for the food industry. Founded in 2020 and headquartered in Leuven, Belgium, Paleo B.

V. focuses on developing myoglobins to enhance the taste and appearance of plant-based proteins. The company was founded by Hermes Sanctorum, who has a history in the food technology sector. Paleo has successfully raised EUR 12.

000 mn in Series A funding as of February 21, 2023, with contributions from notable investors including Belgium Federal Holding Company and DSM Venturing. They have completed a total of 2 deals to date. Paleo specializes in precision fermentation to produce animal proteins, particularly myoglobins, for meat and fish alternatives. Their products are designed to reduce environmental impacts while providing innovative solutions for food manufacturers, restaurants, and retailers.

The company's offerings are distributed in Europe and Asia, with a recent expansion focused on the vegan and vegetarian markets, highlighted by the establishment of an office in Singapore. Paleo's revenue model is based on B2B transactions, partnering with food manufacturers and retailers to integrate their myoglobin solutions into plant-based products. These partnerships involve negotiated pricing agreements that cater to the growing demand for sustainable food options. For the most recent year, Paleo reported an EBITDA of EUR -1,510,474.

30. With the recent EUR 12. 000 mn raised in Series A funding, Paleo B. V.

plans to scale its production capabilities for precision fermentation ingredients and transition into commercial production. The company aims to enhance its product offerings and expand its market presence, particularly in the Asia-Pacific region, targeting growth in the vegan and vegetarian consumer segments.