Tyson Foods invests in food start-up Tovala

Tyson Foods subsidiary Tyson Ventures has invested in US-based food start-up company Tovala, which produces fresh ready-to-cook meals and smart countertop steam ovens.

Financial details of the investment have not been disclosed by both the companies.

The start-up intends to use the investment to support its growth by hiring new staff members across all departments as well as expand its market presence through marketing and by developing new products.

Tovala co-founder and CEO David Rabie said: “Our mission is to make it easier for busy people to eat better at home.

“By controlling the experience end-to-end, including the hardware, software, and food, our customers benefit by not having to sacrifice convenience, health, or taste.

“We’re excited to work with Tyson Foods to explore bringing a wider variety of meals to our customers’ homes.”

Established in 2016, Tyson Ventures focuses on potential food businesses that are pioneering new products or technology.

Tyson Foods executive vice-president corporate strategy and chief sustainability officer Justin Whitmore said: “Our venture capital fund was created to invest in promising entrepreneurs who are on the cutting-edge of innovation in the food industry.

“Our investment in Tovala gives us another opportunity to explore new ways of meeting consumer demand and shape the future of food.”