Tyson Foods, through its corporate venture subsidiary Tyson Ventures, has completed an investment in Tovala, a Chicago-based food start-up that makes smart countertop steam ovens with ready-to-cook meals.
The capital raised will be used to support Tovala’s growth, including adding staff across all departments, geographic expansion, and investment in new products, operations, technology and marketing.
Founded in 2015, Tovala secured funding for its multi-function countertop oven in 2016, which can bake, broil, convection heat or steam ready-prepared meals in minutes.
The company said that by combining an internet-connected steam oven with meals prepared by gourmet chefs, dinner is as easy as scanning a barcode. The gadget, which looks and functions in a similar way to microwave ovens, is accompanied by a chef-curated meal plan to offer consumers an array of convenient dishes.
Tovala-2Tyson Ventures joins a group of investors including Origin Ventures, the Pritzker Group, start-up incubator Y Combinator, Morningstar Inc founder Joe Mansueto, and restaurant entrepreneur Larry Levy in Tovala’s recently closed Series A round of funding.
Tyson Foods chief sustainability officer Justin Whitmore said: “Our venture capital fund was created to invest in promising entrepreneurs who are on the cutting edge of innovation in the food industry.
“Our investment in Tovala gives us another opportunity to explore new ways of meeting consumer demand and shape the future of food. We look forward to our collaboration.”
Tovala CEO David Rabie added: “Our mission is to make it easier for busy people to eat better at home. By controlling the experience end to end, including the hardware, software, and food, our customers benefit by not having to sacrifice convenience, health, or taste. We’re excited to work with Tyson Foods to explore bringing a wider variety of meals to our customers’ homes.”
Earlier this year, Tyson Ventures invested in food tech start-up Memphis Meats, a leader in cultured meat produced directly from animal cells, as it aims to provide new ways of meeting global demand for protein. Tyson has also invested in meat alternative brand Beyond Meat.
Source: FoodBev
Diageo has today (10 November 2025) announced the appointment of Dave Lewis to the role of CEO and executive director, effective 1 January 2026. Lewis steps into the role following the departure of former CEO Debra Crew, who stepped down in July. Nik Jhangiani, the company’s chief financial officer, has been serving as interim CEO since.
Before joining TBG, Chibe served as CEO of Pabst Brewing Company. His previous roles include president and CEO of Ferrero North America, US chief marketing officer at Anheuser-Busch InBev and senior leadership positions at Wrigley.
Located in Southern Minas Gerais, the brewery aims to enhance the company’s supply chain by bringing production closer to key consumer hubs in Brazil’s Southeast region. With an initial capacity of up to five hectolitres per year, the plant will produce Heineken and Amstel products – both 100% pure malt brands.
