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Tyson Ventures helps fund startup

by Nathan Owens | March 12, 2021 at 12:47 p.m.
FILE - In this Wednesday, Oct. 28, 2009, file photo, a Tyson Foods, Inc., truck is parked at a food warehouse in Little Rock.

Tyson Ventures, the meatpacker's investment arm, recently helped fund startup digital technology company Iterate Labs.

Tyson, Monozuki Ventures and other investors helped Iterate Labs raise more than $1 million in seed funding.

The investment will go toward growing Iterate Labs' internet-of-things platform and customer base, a news release from the company said.

Iterate is developing products that collect data on worker actions and movements via wearable sensors.

In an industry of high turnover rates and safety issues, investors are interested in technology that can offer new insight to improve worker performance.

Rahul Ray, director of Tyson Ventures, said in a written statement that this product has the potential to improve worker health and well-being.

"[It] could be a game-changer," Ray said.

A Tyson spokesman declined to disclose how much the company invested.

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