The EVERY Co Raises $55m to Scale Egg Proteins
The EVERY Co has raised $55 million to scale egg proteins via fermentation, marking a significant milestone in the company's growth.
According to The EVERY Co, most buyers are motivated by basic economics, rather than ethical or environmental arguments, when it comes to making eggs without chickens.
- The company has pioneered the use of precision fermentation to make egg proteins with microbes instead of chickens.
- Products featuring its proteins will roll out across the US at Walmart.
- The $55 million Series D round takes EVERY's cumulative funding to $294 million.
"We had a target of raising $50 million and ended up closing in on $55 million," said founder and CEO Arturo Elizondo.
The funding round was led by McWin Capital Partners, with participation from several other investors, and will help EVERY expand manufacturing capacity and move to profitability.
Author's summary: EVERY Co raises $55m for egg protein production.
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