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Voyage Foods raises $52m to expand facility and add staff
Co-led by Level One Fund and Horizons Ventures, the raise also included notable food tech funds SOSV and Collaborative Fund.
Voyage has now raised more than $94m and is set to use this latest injection of money to expand its facilities and grow its team, while also meeting greater than anticipated consumer and commercial demand for its products via B2B, foodservice and retail distribution channels.
Cargill agreed to become the California-based firm’s exclusive global B2B distributor for nut-free spreads and cocoa-free chocolate in April 2024, and is currently rolling out its range across Europe.
In addition to its range of nut and cocoa free vegan confectionery and spreads, Voyage also manufactures bean-free coffee that can be sold in a variety of formats including cold brew, grounds, pods and instant.
“Voyage Foods was born out of the desire to harness the power of food technology and activate industry-wide change,” said Voyage CEO Adam Maxwell.
“We’re thrilled our innovations have been embraced within B2B and amongst a rapidly growing consumer base. As a mission-driven food company it’s especially fulfilling to work alongside investors that recognize and embrace our impact as we continue to move forward in further scaling manufacturing, expand distribution and deliver time-tested favourite foods that are better for the planet and our health.”
Meanwhile, Level One Fund founding partner James Stewart added: “Voyage’s technology has set a new standard for commercialization in the food tech space by producing replicas of essential food products and ingredients that are both extremely cost competitive against, and more sustainable than, incumbent products.
"As the only company in the world with the validated ability to make these replicas at scale, Voyage’s newly announced partnership with Cargill makes these products available to the world’s major food companies as an immediate solution to fluctuating commodity prices and supply chain disruptions.”
