Tyson Foods invests in Memphis Meats
Tyson Ventures, the venture capital arm of Tyson Foods, has invested in Memphis Meats, a start-up developing cultured meat produced directly from animal cells.
Tyson Ventures, the venture capital arm of Tyson Foods, has invested in Memphis Meats, a start-up developing cultured meat produced directly from animal cells. The investment is an example of Tyson Foods’ commitment to explore innovative, new ways of meeting growing global demand for protein.
While the terms were not disclosed, Tyson Foods investment represents a minority stake in the business. Tyson Foods joins a diverse group of investors in Memphis Meats that include Cargill, Bill Gates, and Richard Branson.
“We are excited that Tyson Foods will be joining us in our mission to bring meat to the table in a sustainable, affordable, and delicious way,” said Uma Valeti, co-founder and CEO of Memphis Meats. “Our vision is for the world to eat what it loves, in a way that addresses today’s challenges for the environment, animal welfare, and public health. We are accelerating our work and building out a world-class team to make this a reality.”
Memphis Meats expects to use the funds to accelerate product development. The company is currently recruiting to expand its team of chefs, scientists, creative people, and business people.