Beyond Impact Leads Undisclosed Paleo Round as Myoglobin Costs Fall 613-Fold

Belgian precision fermentation company Paleo has secured a new round of funding led by existing investor Beyond Impact VC, although the size of the round was not disclosed. The capital will be used for regulatory submissions and commercial partnerships, rather than further technology development. Paleo has achieved a significant cost reduction of 613-fold for its animal-free myoglobin over the past two years and has demonstrated large-scale production, although specific figures have not been disclosed.

Founded in 2020, Paleo utilizes yeast fermentation to produce myoglobin for various animal proteins and supplies it as a B2B ingredient. The company recently announced a refocusing of operations on core R&D due to slow regulatory timelines and reduced investor interest in high-risk biotech. Despite challenges in the alternative protein sector, Paleo remains optimistic about its future due to the strength of its product and its partnerships with companies like Revo Foods.