Business
Portfolio Company Update: The EVERY Company
Portfolio Company Update: The EVERY Company.
About this update from Agronomics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 9623U\n Agronomics Limited\n 08 December 2021\n \n \n \n \n 8 December 2021 \n \n \n \n Agronomics Limited\n \n \n \n (\"Agronomics\" or the \"Company\")\n \n \n \n \n \n Portfolio Company The EVERY Company Announces Oversubscribed US$ 175 million Series C Round\n \n \n \n \n \n Agronomics, the leading listed investment company focused on the field of cellular agriculture, is pleased to announce portfolio company The EVERY Company (\"EVERY\", formerly Clara Foods Co.) has closed its oversubscribed US$127.5million Series C Round by raising a total of US$175 million. Agronomics participated in this round on the 4 November, when it announced its US$8 million investment and based on this revised Series C Round its investment will equate to an interest of 1.28%. This equates to an estimated portfolio weighting based on the Company's last reported Net Asset Value of 5.6%.\n \n \n \n \n \n EVERY is a leading precision fermentation company with a key focus on the commercialisation of proteins traditionally derived from animals. Recently, EVERY launched the world's first animal-free egg protein and collaborated with the juice brand Pressed to produce smoothies containing their protein. This recent fundraise will help drive the scale up of its animal-free protein platform, so that EVERYs sustainable ingredients can have a worldwide reach.\n \n \n \n \n \n The full announcement is set out below without any material changes:\n \n \n \n \n \n The EVERY Company Closes Oversubscribed $175 Million Series C Round as it Drives Scale-up of its B2B Animal-Free Protein Platform\n \n \n Capital to Fuel Rapid Nationwide Expansion into CPG and Foodservice Channels\n \n \n \n San Francisco (December 7, 2021) -\n \n The EVERY Company, the leading precision fermentation platform accelerating a global transition to animal-free protein, today announced it has closed $175 million in Series C financing. The round was co-led by new investor, McWin, and existing investor, Rage Capital. Other new and existing investors joined the round including Temasek, Grosvenor's Wheatsheaf Group, and TO Ventures. Prosus Ventures also contributed to the funding, marking its first investment in synthetic biology.\n \n \n Notably, the Series C round raised by EVERY™ (formerly Clara Foods) was heavily ov...