Pat dry beef cubes with kitchen towel and season with salt and pepper. Set aside.
Turn the instant pot on and select sauté on the lowest setting.
Add the chopped bacon to the instant pot and render out the fat. Cook for approx. 15 minutes until the bacon is nice and crispy.
Once cooked, remove bacon from Instant Pot with a slotted spoon and set aside.
Add the butter (as needed) to the instant pot and brown the beef, working in batches.
Once the beef is browned, set aside.
Add 1 tbsp of olive oil to the instant pot and sauté the diced onions for 2 minutes.
Add minced garlic and sauté for another minute.
Add the mushrooms and carrot and sauté until softened. About 5 minutes.
Stir in tomato paste and sauté for 3 minutes, until fragrant.
Add the beef back into the instant pot with 2 cups of wine and bouquet garni.
Simmer until the wine has reduced by half.
Add beef broth, 1 tbsp of beef gelatin and half the bacon back into the pot. Adjust seasoning as needed.
Lock the lid in place and select high pressure for 30 minutes. Once done cooking, turn to value to a quick release.
Once done cooking, remove the bouquet garni, add the remainder of the bacon and serve immediately. This pairs beautifully with our cauliflower mash!