U.S.-based food technology brand 'Voyage Foods' has recently announced the successful closing of a multi-million dollar funding round. This financing round saw participation from prominent investors including Ventech China, Level One, and Horizons Ventures. To date, Voyage Foods has raised nearly $100 million in total funding.

Founded in 2021, Voyage Foods leverages its proprietary food innovation technology to develop alternatives to traditional nut butters, chocolates, and coffee. By analysing the microstructure of scarce food items, the company identifies natural, accessible, and sustainable ingredients to replicate desired flavours and textures, followed by scaled production. Its debut product, a peanut-free peanut butter, and the subsequent launch of a hazelnut-free hazelnut spread, offer superior solutions for those with peanut and tree nut allergies. Employing a similar R&D philosophy, Voyage Foods unveiled its latest offering, Voyage bean-less coffee, in July. This coffee alternative, devoid of coffee beans, is over 40% more affordable than conventional coffee. As of now, Voyage Foods has secured more than eight patents, and its peanut-free peanut butter and hazelnut-free hazelnut spread are available in over 1,200 Walmart brick-and-mortar stores and on Walmart.com across the United States. In April, Voyage Foods also declared a strategic partnership with Cargill, which will act as the exclusive B2B global distributor for the company's cocoa and nut butter products. Beyond retail and food manufacturing collaborations, Voyage Foods is actively pursuing partnerships with restaurants, K-12 institutions, and airlines.

In terms of future plans, Voyage Foods is set to expand its production capabilities and enhance its collaborative efforts with partners, while persisting in the development of sustainable products. Concurrently, Ventech China is poised to support Voyage Foods' foray into the Asian market, aiming to introduce environmentally conscious, high-quality products that do not compromise on taste to Asian consumers.

Serving as the legal advisor to Ventech China, Llinks has provided expert legal services for this investment, drawing on its extensive experience in the investment and financing sector.

Llinks Team:

Partners: Selena She, Colin Shi

Contractual Partner(s): Joyce Zhang

Associate(s): Flora Zou