Memphis Meats, the San Fran clean meat start-up, has added Tyson Foods to its growing roster of financial backers, which includes Cargill, Bill Gates and Richard Branson.
Tyson joins the coalition of investors backing the company, although terms of the investment were not disclosed. Funds will be sued to accelerate product development.
“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,” explains 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.”
Tyson said its backing on Memphis Meats is further evidence of its commitment to “explore innovative, new ways of meeting global demand for protein”.
“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.
“We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”