Paleo, a food tech startup and precision fermentation company, announced that it has raised €12 million in a Series A investment round. The €12 million investment round was led by DSM Venturing and Planet A Ventures. Gimv, SFPIM Relaunch, Beyond Impact and Siddhi Capital also participated in the round.
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What Does Paleo Do?
Paleo was founded in 2020 by Andy de Jong and Hermes Sanctorum. Its aim is to produce key ingredients for plant-based meat and fish alternatives through precision fermentation technology. According to Paleo, their protein products are 100% identical to animal proteins and 100% GMO-free. While Paleo's competitors in the same industry produce meat proteins through precision fermentation, according to Paleo, their final product is the only one considered non-GMO.
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