Tyson invests in another alternative protein company
08/05/2018
The Israeli company is focused on developing a new generation of manufacturing technology that enables the cost-efficient production of fat and muscle cells, the core building blocks of meat. It could allow for the creation of meat directly from animal cells, without the need to raise or harvest animals.
Tyson Ventures was set up in 2016. The fund’s function is to invest in “alternative proteins” and other breakthrough food technologies.
It was joined in this investment round by Israeli food conglomerate Neto Group, Chicago-based venture capital fund S2G Ventures, and Chinese food technology venture capital fund BitsXBites.
"This is our first investment in an Israel-based company and we’re excited about this opportunity to broaden our exposure to innovative, new ways of producing protein," said Justin Whitmore executive vice president corporate strategy and chief sustainability officer of Tyson Foods. "We continue to invest significantly in our traditional meat business but also believe in exploring additional opportunities for growth that give consumers more choices."
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