Round Co-Led By UBS O’Connor and Amount One particular Fund To Encourage Growth and R&D Expansion In advance of Q2 Start
OAKLAND, Calif., May 5, 2022 /PRNewswire/ — Voyage Meals, the top foods know-how organization known for re-building some of our most beloved meals using sustainable ingredients and sourcing procedures, these days announced a $36M Series A round, bringing full funding to date to $41.7M. The round was co-led by funds managed by UBS O’Connor and Amount A person Fund, and also involved participation from Horizons Ventures, SOSV’s Indie Bio, and Social Influence Capital.
Voyage Food items was made to handle quite a few of the concerns that are making popular foodstuff items more and more complicated to accessibility: local climate improve, soaring expenditures, unethical output, and health and fitness troubles. The company’s a few proprietary merchandise – peanut-cost-free distribute, cacao-absolutely free chocolate, and espresso without having the coffee beans – are molecularly related to their original counterparts, totally free of the major nine important allergens, and manufactured employing a mixture of total, all-natural elements that are sustainably made, with no sacrificing the flavor and encounter customers are acquainted with. They are also comparable in selling price to classic espresso, peanut butter, and chocolate, demonstrating that revolutionary methods to the foreseeable future of food stuff do not have to translate to greater fees.
The closing of this Sequence A funding spherical establishes Voyage Foodstuff as a prime competitor in the ethical food stuff industry, which is projected to grow to $727.86B by 2025 at an annual price of 5.8% as individuals demand from customers extra accountability from well-liked brands. Espresso prices have been increasing in modern several years mainly owing to unstable weather conditions patterms and local climate modify, even though cacao creation has the biggest water footprint of any other crop and makes use of problematic cultivation methods in the variety of little one and slave labor. In the meantime, intense peanut allergies affect in excess of 6.1 million Individuals, corresponding to around 2% of the U.S. population, and are swiftly on the rise in each young children and adults. Voyage Foods’ items will not only help mitigate these concerns and deliver a blueprint for a additional just system, but will also protect the vintage meals that are facing troubles in methods that are accessible to every person.
Voyage Foods is led by a staff of esteemed food items experts including CEO Adam Maxwell, who has a strong background operating for leading meals and beverage technological innovation corporations this sort of as CHEW Innovation and Infinite West, and Head of Operations Kelsey Tenney, who served as Senior Meals Scientist at Infinite West and Unbelievable Meals.
“At Voyage, we’re potential-proofing time-examined most loved foodstuff so that we can take pleasure in them for years to occur devoid of having to worry about their impact on the natural environment and unjust labor customs that contributed to creating them,” claimed Voyage Foodstuff CEO Adam Maxwell. “We are thrilled to be doing work with dynamic investors who are dedicated to encouraging us build delicious variations of usually unsustainable food products that is not going to be limited by weather adjust, humanitarian fears, or immunological troubles.”
“Voyage’s means to produce legitimate 1:1 replacements for some of the world’s most significant food merchandise is a feat unmatched by most foodstuff tech corporations,” stated Kevin Russell, Chief Financial commitment Officer of UBS O’Connor. “Compared to incumbent solutions this is done at a outstanding price tag and with a significantly minimized environmental impression, and has the likely to change the foods method in a way that rewards all stakeholders.”
“Voyage Foods is a paradigm shift for food tech. It proves that innovations in foodstuff don’t want to cost extra than incumbent merchandise or be filled with a laundry list of substances you’ve never read of. The distinctive technologies and approach guiding this quantum leap can liberate us from the volatile commodity rates, humanitarian challenges, and unfavorable environmental impacts tied to the mass output of cocoa, coffee, and many other crops,” claimed James Stewart, Founding Associate of Degree One particular Fund.
Voyage Foods’ potential incorporates a combination of retail and B2B partnerships, with a target on incorporating products and solutions into some of the major foods makers in buy to enable them transition to a extra environmentally acutely aware and equitable foods source. Their to start with product, the peanut-absolutely free unfold, will be launching in sure in-retail store and on the web stores in Q2. Voyage’s cacao-free chocolate will be launching as an ingredient with a industrial lover in Q3.
About Voyage Food items:
Voyage Food items is a technological know-how business upcoming-proofing our common favorites by recreating them utilizing sustainable, scalable substances without having compromising flavor or affordability. Through its proprietary, breakthrough technological know-how, Voyage is making certain that our beloved food items stay obtainable in spite of environmental, ethical, and well being considerations, although demonstrating that traditional ingredients and outmoded sourcing practices are not necessary for scrumptious and cherished food stuff activities. While Voyage has perfected a few products therefore far – cacao-no cost chocolate, peanut-free of charge distribute, and espresso devoid of coffee beans – the technologies uses entire ingredients to recreate any non-fibrous food, building it achievable to enjoy our most loved meals, forever. For additional information and facts, stop by www.voyagefoods.com.
Media Get in touch with:
Dini von Mueffling Communications
Source Voyage Foodstuff