Paleo, a Belgium-based startup using precision fermentation to produce alternative proteins for plant-based foods, has ventured into the plant-based pet food market with an animal-free heme ingredient. The company has also filed and published a patent application, reportedly the world's first, for the use of its animal-free heme in pet food formulations.

The company is considering the development of common prey for cats and dogs, including rat, mouse, and rabbit proteins, and aims to launch its animal-free heme in a dog or cat food product in 2024.

Analyst QuickTake: Paleo has expanded its product portfolio by entering the plant-based pet food market, initially focusing on producing alternative proteins for meat and fish. This expansion comes amid the company's ongoing initiatives to develop a commercial production strategy for its plant-based offerings and secure regulatory approvals across key markets, including the US, Canada, Europe, Latin America, and Asia. In an effort to scale the production of animal-free heme protein, the company also secured EUR 12 million in Series A funding earlier this year.