Tyson Foods, through its venture capital arm, has invested in Memphis Meats: a leader in the movement towards growing "clean meat" or "cultured meat," a product which arises from animal cells without the necessary labor or moral-ambiguity of raising and processing animals. Though the terms of the investment are not currently disclosed, with this investment, Tyson Foods joins the ranks of DFJ, Atomic, Cargill, Bill Gates, and Richard Branson, all of whom have already invested in the startup, reflecting a shift toward innovative solutions to meeting an ever-growing global protein demand.
“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 of Corporate Strategy and Chief Sustainability Officer of Tyson Foods in a recent press release. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”
Tyson is not alone in its excitement to move forward with Memphis Meats. DFJ also feels that this investment opportunity will open new avenues not only for the company, but for sustainability as well.
"We are thrilled that Tyson Foods has joined the investor coalition of Memphis Meats,” added Heidi Roizen, Partner at DFJ. “Memphis Meats is a critically important company to the future of food, and their mission to produce meat in an innovative and sustainable way is incredibly compelling to us as both investors and as lovers of animals. We are delighted to be a part of their amazing journey.”
As Memphis Meats continues to accelerate product development and recruitment, we hope you’ll follow the progress with Deli Market News.
