Food Entrepreneur OAKLAND, CALIF.  — Voyage Foods, a maker of peanut-free spread, chocolate without cacao and coffee without coffee beans, has raised $52 million in a Series A round. The startup’s total funding exceeds $94 million, according to the company.

The round was co-led by Level One Fund and Horizons Ventures. SOSV and Collaborative Fund also participated.

Voyage will use the funds to expand manufacturing facilities and grow personnel.

The company recently partnered with Cargill to further expand its reach with Cargill becoming its new global distributor.

“Voyage Foods was born out of the desire to harness the power of food technology and activate industry-wide change,” said Adam Maxwell, chief executive officer of Voyage Foods. “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 favorite foods that are better for the planet and our health.” 

Level One Fund also co-led a Series A financing round for Voyage Foods in 2022, which raised $36 million.

“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,” said James Stewart, founding partner of Level One Fund. “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. Level One Fund is proud to co-lead this round with Horizons Ventures and provide the capital necessary for Voyage to scale up production and yield an immediate and meaningful impact on the world.” 

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