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Heat a large skillet over medium heat & render bacon until crisp. Using a slotted spoon, transfer bacon to the slow cooker and remove most of the fat (nearly all of it), reserving the rest.
Toss beef in flour, onion powder, ¾ teaspoon salt and black pepper. Brown the beef on all sides in two batches. Transfer the beef to the slow cooker.
Add 1 teaspoon of the reserved bacon fat, mushrooms and remaining ¼ teaspoon salt to the pan; cook until mushrooms begin to brown, 4 to 5 minutes. Add the shallots and garlic, cook until aromatic and soft; 2 to 3 minutes. Add tomato paste and stir to combine. Transfer to the slow cooker.
Add red wine and beef stock. Stir to create a homogenous liquid. Lay fresh herbs on top followed by the carrots.*
Cook on low 8 hours of high for 4 to 6 hours. Remove herbs before serving.