16 April 2019 | News
The terms of the deal aren’t being disclosed
Tyson Ventures has already made splashes buying stakes in alternative protein companies. Now, the venture capital arm of giant Tyson Foods Inc. is betting the meat industry will beef up its food-safety platforms.
The unit is investing in Clear Labs Inc., a food safety testing company that uses a robotic platform to detect pathogens like salmonella.
The technology shortens turnaround times of current methods to 24 hours from three-to-five days. It’s Tyson’s first investment in the food-safety space, and likely not the last, said Reese Schroeder, managing director at Tyson Ventures.
The terms of the deal aren’t being disclosed.