Evergreen Raises $6mn for Hybrid Beef

Cultivated meat group targets distributor ties and cost control with blended ground beef products

23 Feb 2026

California-based cultivated meat producer Evergreen Select has raised $6mn as it shifts its focus towards commercial scale and partnerships with traditional meat suppliers.

The company, formerly known as Omeat, develops beef grown from animal cells. Rather than launching fully cultivated cuts at premium prices, Evergreen is prioritising blended ground beef that combines cultivated meat with conventional beef. The hybrid format is intended to reduce production costs and allow the product to move through existing processing and distribution systems.

The funding round was backed by S2G Investments and BOLD Capital Partners, bringing the company’s total capital raised to more than $55mn. Evergreen said the new funds would support production scale-up and strengthen ties with meat processors and distributors.

By embedding its cultivated ingredient within established supply chains, the company is positioning its products as an extension of the current meat industry rather than a replacement. The approach reflects a broader adjustment across the food technology sector, where investors have become more selective after several years of heavy funding.

Across alternative proteins, capital has increasingly flowed to businesses that can show a clear path to revenue and operational discipline. Companies in precision fermentation and ingredient manufacturing have also attracted investment by emphasising supply agreements and cost reduction over long-term technological ambition.

Cultivated meat producers continue to face regulatory hurdles and high production expenses. Approvals are required before products can be sold widely, and companies must demonstrate that output can be scaled at competitive prices. Consumer acceptance remains uncertain, particularly as price sensitivity weighs on food spending.

Blended products may offer a transitional step. By mixing cultivated and conventional beef, producers can lower the proportion of high-cost cell-grown material while maintaining familiar taste and texture. The format also allows retailers and foodservice operators to test demand without overhauling supply chains.

Evergreen’s latest fundraising points to a more pragmatic phase for the sector. Companies are seeking incremental market entry and near-term revenue while working to improve production economics over time.