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

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 ]