US biotechnology firm EVERY has secured $55m in Series D funding to scale up production and strengthen its position in the global egg market.
The funding round was led by McWin Capital Partners through its McWin Food Tech Fund.
Other participants included Main Sequence, Bloom8, TO.VC, Minerva Foods, Grosvenor Food & Ag, New Agrarian, SOSV, and additional investors.
According to the company, the funds will be used to expand manufacturing capacity and move towards profitability.
The firm plans to increase its share in the global egg market, with particular attention to the high-volume bakery segment.
EVERY co-founder and CEO Arturo Elizondo said: “This new injection of capital will allow us to make good on our promise of making products that are accessible to everyone – in every state, every city, and every grocery store.
“This milestone fundraise is a powerful validation of our ambitions and we’re grateful for the trust of our incredible investors.”
EVERY uses precision fermentation technology to create functional egg proteins that provide a “stable” and “cage-free-compliant” substitute for traditional eggs.
The company said the process helps mitigate challenges related to avian flu outbreaks, feed costs, and other disruptions affecting egg supply and pricing.
The products, which remain shelf-stable for up to 18 months in powder form, are designed to simplify logistics for food manufacturers by reducing the need for cold-chain storage, the company said.
EVERY’s ingredients have been rolled out across online, retail, and foodservice channels.
Starting this month, products containing the company’s proteins will also be available in Walmart stores across the US.
The company stated it is producing several metric tonnes of product each month at commercial scale, which supports its plans for large-scale adoption and reliable supply to major food brands.
Its product range includes OvoPro (ovalbumin, formerly EVERY EggWhite) and OvoBoost (formerly EVERY Protein), a neutral-tasting, soluble protein suitable for beverages and baked goods.
McWin Capital Partners Food Tech head and partner Martin Davalos added: “EVERY has crossed the line from promise to proof. They’re not talking about proof-of-concept pilots here – they’re selling metric tons of product at scale to some of the biggest food companies on the planet.
“EVERY is exactly the type of platform that will define the next decade of food production.”
