Tyson Foods Inc., through its corporate venture subsidiary Tyson Ventures, has completed an investment in Tovala, a Chicago-based food startup that makes smart countertop steam ovens with fresh ready-to-cook meals. The terms of the investment are not being disclosed.
Tyson Ventures joins a strong group of investors including Origin Ventures, the Pritzker Group, startup incubator Y Combinator, Morningstar Inc. founder Joe Mansueto, and restaurant entrepreneur Larry Levy in Tovala’s recently closed and announced Series A round of funding. The capital raised will be used to support Tovala’s growth, including adding staff across all departments, geographic expansion, and investment in product, operations, technology and marketing.