This startup is using precision fermentation to make plant-based food taste better. Check out the 10-slide pitch deck Paleo used to secure $12.8 million.
It uses precision fermentation and yeast to grow proteins"identical" to animal-based protein.
A European foodtech startup cofounded by a former Belgian senator has just raised 12 million euros to make plant-based food taste better. Venture capital investment in fermentation has crept up over the last five years, totalling $982 million in 2022. The figure is dwarfed by the record $2.3 billion invested in 2021, a year private markets were flush with capital and is largely considered an outlier, but builds on the $843 million handed to fermentation startups in 2020. , which enabled its burgers to"bleed." Paleo will sell its products to other plant-based food companies so they don't have to develop it in-house.
"I must confess, even when you stun an animal before slaughtering ... you still have to raise it, it's still suffering. I started thinking, we should really fundamentally change the consumption of proteins," the former Environment, Nature, Urbanism, Energy and Animal Welfare committee member told Insider.
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