Highlights

  • EVERY completes USD 55 million Series D financing to expand U.S. operations.
  • Walmart launch to introduce EVERY's precision-fermented egg proteins nationwide.
  • Funding aims to scale production and stabilize supply in the USD 270B egg market.

Agronomics Limited (LSE:ANIC) reports that its portfolio company, EVERY Company (“EVERY”), has closed a USD 55 million Series D financing round. The funding was led by McWin Capital Partners through the McWin Food Tech Fund, with participation from Main Sequence, Bloom8, TO.VC, Minerva Foods, Grosvenor Food & Ag, New Agrarian Company Limited, and SOSV.

The capital will support EVERY’s manufacturing expansion, with the company targeting profitability and wider market penetration in the USD 270 billion egg market. EVERY produces egg proteins using precision fermentation. Its FDA-approved product line includes OvoPro™ (ovalbumin) and OvoBoost™ (highly soluble protein suitable for fortifying food and beverages).

Nationwide Retail Launch

EVERY’s proteins will be featured in new product launches at Walmart starting November, making them available nationwide. The company has previously commercialized its ingredients through online platforms, retail, and foodservice channels, indicating early market adoption.

Addressing Egg Supply Challenges

Egg prices and supply have faced volatility due to factors such as avian flu and higher feed costs. EVERY’s precision-fermented proteins provide a cage-free, stable source of egg protein. Production is geographically flexible and decoupled from livestock and feed markets, eliminating risks such as avian flu outbreaks or salmonella contamination.

EVERY’s products are shelf-stable for up to 18 months in powdered form, simplifying logistics and removing the need for cold-chain storage. This format supports consistent supply for high-volume users including bakeries and large food brands.

Agronomics’ Investment Overview

Agronomics first invested in EVERY on 4 November 2021, with a total investment of GBP 5.9 million to date. This holding represents approximately 4.02% of Agronomics’ reported Net Asset Value of GBP 145.3 million as of 30 June 2025. The recent Series D funding is not expected to affect the carrying value of Agronomics’ stake in EVERY.

Strategic Outlook

The Series D financing and nationwide retail launch mark a significant step in EVERY’s commercial expansion. The funding is expected to support large-scale production and distribution, enabling the company to meet demand from food companies seeking consistent and functional egg protein alternatives.

Share Performance of ANIC

ANIC was trading 0.64% higher at 7.85 GBX per share as of 10 November 2025.