- McWin leads a $175 million Series C financing round with Rage Capital.
- The fund advances its commitment to transform the global food system and continues its support for sustainability.
WROCLAW, Poland, Dec. 14, 2021 /PRNewswire/ -- McWin Food Ecosystem, the fund created by Henry McGovern and Steven K. Winegar, founder of AmRest and co-founder of Zena Group, respectively, joins the shareholding of the US company, market leader in fermentation processes, engineering, manufacturing and creation of real, non-animal proteins for the food industry, The EVERY Company, becoming one of the main shareholders of one of the most important FoodTech companies in the world.
McWin, which has Nortia Capital as a reference investor, has led a Series C financing round together with Rage Capital -which was already a shareholder of the company- in which $175 million have been raised. In addition, leading firms such as Temasek, Wheatsheaf Group, TO Ventures and Prosus Ventures, among others, participated in the round. This has been widely oversubscribed in an environment where the demand for alternative proteins has grown enormously and where the ingredients industry needs to catch up and where The EVERY Company is positioned as the leading candidate to fill the gap.
"The restaurant industry is one of the early adopters of new food technologies and their introduction to the consumer. Given our deep roots in restaurants and as a prolific investor in the leading alternative protein companies, McWin is uniquely equipped to support EVERY's ambitious plans to bring its products to menus worldwide," said Henry McGovern, founder of McWin Food Ecosystem Fund and AmRest, which operates over 2,300 restaurants globally. "Eggs are not only ubiquitous, but they are also incredibly difficult to replace; we see tremendous potential in EVERY's revolutionary technology."
With this transaction, McWin takes a step forward in its commitment to advancing sustainability, transforming the global food system and transitioning it to a non-animal protein sector. This transaction brings The EVERY Company's funding to $233 million. The company plans to use these funds to scale production, accelerate commercial launches, initially in the US, build a strong portfolio of non-animal protein products, and develop a broad range of new food uses and applications.
The EVERY Company has disrupted the food technology industry by creating a platform for producing real protein without using a single animal. Last year, the company launched the first non-animal pepsin with Ingredion. More recently, it launched the first non-animal egg protein using exclusively fermentation techniques. The EVERY Company expects to continue to expand its production base by using its egg proteome to create new hyper-functional proteins.
"There has never been a better time to be a B2B ingredients platform," said Arturo Elizondo, CEO & founder of The EVERY Company. "As the world's biggest food companies work to evolve their product offerings into the 21st century by driving for cleaner, kinder, and more sustainable labels, the options available are few and far between. We at EVERY are perfectly positioned to enable the world's largest and smallest food companies to transition to an animal-free future -- without compromises. Now, our major objective is to scale the platform to make good on our promise to bring our proteins to everyone everywhere. This new injection of capital will allow us to do just that."
