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Tyson Foods announces investment in clean meat

Tyson Foods, through its venture capital arm, Tyson Venture, has invested in Memphis Meats, a food tech startup and a leader in cultured meat produced directly from animal cells. The details of the transaction have not been disclosed, but the company announced that the investment represents a minority stake in the business.

Posted on Jan 30 ,10:45

Tyson Foods announces investment in clean meat

 

Tyson Foods joins a diverse group of investors in Memphis Meats, which includes industry leaders, top venture investors and mission-driven groups, such as DFJ, Atomico, Cargill, Bill Gates and Richard Branson.

“We’re excited about this opportunity to broaden our exposure to innovative, new ways of producing meat, especially since global protein demand has been increasing at a steady rate,” 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.”

“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,” explained Uma Valeti, M.D., 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. The company develops beef, chicken and duck meat from animal cells.

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