Voyage Foods, a start-up headquartered in the San Francisco Bay Area, has successfully concluded a funding round, securing a total of $52 million. With this latest investment, the company has amassed a total funding of $94 million.
The Series A+ round was co-led by Level One Fund and Horizons Ventures, with additional participation from SOSV, Collaborative Fund, and Nimble Partners.
Employing innovative technology and utilizing upcycled, nutritious ingredients, Voyage Foods crafts beloved products and flavors devoid of the top nine allergens. Specializing in plant-based ingredients, the company pioneers sustainable, dairy-free alternatives for popular items, such as chocolate, which confront uncertain futures due to sourcing challenges.
In addition to its cocoa-based product alternatives, Voyage Foods offers nut-free spreads meticulously crafted without common nut or dairy allergens like peanut and hazelnut. These spreads, expertly formulated to replicate the taste of their traditional counterparts, owe their success to the company’s proprietary technology.
Continue Exploring: Cargill partners with Voyage Foods to introduce sustainable cocoa-free confectionery options globally
In October of last year, the start-up introduced its peanut- and hazelnut-free spreads, crafted from roasted seeds, to Walmart stores nationwide in the US.
This year in March, Voyage collaborated with Rudi’s Mountain Bakery in the US to unveil nut-free sandwiches, aptly named “sandos,” which come pre-prepared with Rudi’s grape jelly and Voyage’s peanut-free spread.
In April, Voyage Foods inked a global agreement with Cargill to furnish sustainable confectionery to commercial and B2B clients. In this arrangement, Cargill assumes the role of exclusive B2B distributor for Voyage Foods, diversifying its conventional chocolate lineup to encompass cocoa-free alternatives for the very first time.
Inge Demeyere, managing director of indulgence Europe at Cargill, expressed, “Cargill is delighted to collaborate with Voyage Foods… This partnership exemplifies one of the numerous approaches we are taking to fortify our portfolio for the future, aligning with consumer preferences and evolving market standards in sustainability and health.”
Continue Exploring: Superplum raises $15 Million in Series A funding to revolutionize India’s fresh fruit market
James Stewart, founding partner of Level One, remarked that Voyage’s technology “has established a groundbreaking benchmark for commercialization within the food-tech sector, crafting replicas of vital food products and ingredients that not only rival the cost of incumbent products but also surpass them in sustainability.”
He further stated, “As the sole entity globally with validated proficiency in producing these replicas on a large scale, Voyage’s recent collaboration with Cargill ensures accessibility of these products to leading food corporations worldwide, offering an instant remedy to volatile commodity prices and supply chain interruptions. Level One Fund takes pride in co-leading this round with Horizons Ventures, furnishing the essential capital for Voyage to escalate production and effectuate an immediate, significant global impact.”