The EVERY Company Nabs $55M to Support Nationwide Rollout of Animal-free Egg Proteins

Food tech ingredient platform The EVERY Company announced this week that it has closed a $55 million Series D capital round led by McWin Capital Partners through McWin Food Tech Fund. Main Sequence, Bloom8, TO.VC, Minerva Foods, Grosvenor Food & Ag, New Agrarian and SOSV.

The new capital injection will be used to expand manufacturing, move toward profitability, and grow EVERY’s reach in the $270 billion egg market, particularly in the high-volume bakery segment. Beginning this month, the company’s animal-free egg proteins will be featured in bakery products launching at Walmart stores nationwide, marking a key step in mass-market adoption.

“[This raise] will allow us to make good on our promise of making products accessible to everyone – in every state, every city and every grocery store. This milestone raise is a powerful validation of our ambitions,” said Arturo Elizondo, co-founder and CEO of EVERY, in a press release.

Founded in 2014 as Santa Clara Foods, The EVERY Company produces a portfolio of FDA-approved ingredients, including OvoPro, which replaces the functionality of conventional eggs and egg whites in a range of applications, and OvoBoost, a taste- and texture-neutral protein that can be used to fortify a wide range of food and beverage products. Its ingredients have been commercialized across online and retail markets and foodservice channels.

“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,” said Martin Davalos, partner and head of food tech at McWin Capital Partners, in the release. “EVERY is exactly the type of platform that will define the next decade of food production.”

Last year, EVERY received a major nod of approval from the U.S. Department of Defense, which awarded the company $2 million from a $60 million pool. The cash was deployed from the DoD’s Distributed Bioindustrial Manufacturing Program (DBIMP), which was established by the White House’s Executive Order 14081 to bolster America’s bioeconomic strengths.

EVERY’s newest raise comes as food makers and consumers alike seek more reliable ingredients following the fluctuating egg prices and supply chain issues tied to last year’s Highly Pathogenic Avian Influenza (HPAI) outbreak. Companies like Eat Just (JUST Egg) and Hodo Foods – which market plant-based egg alternatives – have also received votes of confidence in recent years, with the former pulling in capital from VegInvest/Ahimsa Foundation in 2023.

“If the last two years have taught us anything, it’s that our current food system remains incredibly fragile. One outbreak can wipe out millions of hens. For food companies large and small, that kind of risk just isn’t tenable – and we know have the answer,” said Elizondo.