Tyson Ventures joins other investors, including Morningstar Inc.’s Joe Mansueto, the Pritzker Group, Origin Ventures, restauranteur Larry Levy and Y Combinator in the Series A round of funding.
“Our venture capital fund was created to invest in promising entrepreneurs who are on the cutting edge of innovation in the food industry,” said Justin Whitmore, Tyson Foods’ executive vice president of corporate strategy and chief sustainability officer.
“Our investment in Tovala gives us another opportunity to explore new ways of meeting consumer demand and shape the future of food. We look forward to our collaboration,” said Whitmore.
Tovala co-founder, David Rabie, said his company’s mission is to bring convenience and quality food to consumers eating at home.
The latest partnership comes on the heels of Tyson Ventures announcing its investment in Memphis Meats, which produces meat grown from animal cells. The company has also invested in two rounds of funding in plant-based protein manufacturer, Beyond Meat, based in El Segundo, California.