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Steam Oven/Meal Kit Start-Up Gets Cash Infusion From Tyson Foods

February 7, 2018: 12:00 AM EST
The Tyson Foods investment unit has purchased a stake in a start-up subscription meal kit company that also sells an steam-based "smart" oven. Tyson Ventures will also collaborate with Chicago-based Tovala on Tyson-branded meals. Tovala began three-and-a-half years ago when the founder connected with an engineer with an idea for a modern version of the steam oven that looks like a microwave oven. The concept attracted the attention of Origin Ventures, which led the company’s $9.2 million round late last year, along with the Chicago-based Pritzker Group Venture Capital; Morningstar founder Joe Mansueto; restaurant and real estate entrepreneur Larry Levy; and Y Combinator. Tovala’s oven retails for $399, but the price drops when customers subscribe to the meal kits service.. [Image Credit: © Kickstarter.com ]
Jonathan Shieber, "Tyson Foods Invests in Tovala’s New Oven and Meal Kit Business", TechCrunch, February 07, 2018, © Oath Tech Network
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