Voyage Foods

What Voyage Foods does

Voyage Foods is a privately held, Oakland, California-based food technology company founded in 2021 that develops sustainable, allergen-free ingredient alternatives for B2B customers in the food and beverage manufacturing industry. The company operates as a B2B ingredients platform built around three core product lines: NextCoa cocoa-free chocolate (made from upcycled grape seeds), Bean-Free Coffee, and Allergen-Free Spreads and Fillings free from the top nine allergens. Its underlying technology combines upcycled plant-based inputs, novel formulation chemistry, and proprietary processing into clean-label, 1-for-1 replacement ingredients that food manufacturers can adopt with minimal reformulation. The company's products address three structural pressures on incumbent commodity supply chains — commodity price volatility, climate-driven crop instability, and rising food allergy prevalence — and are positioned with published Life Cycle Assessments and an April 2026 GRAS notice for the grape seed ingredient.

Voyage Foods generates revenue through B2B ingredient sales to food and beverage manufacturers under quote-based enterprise pricing, supplemented by a licensing and distribution arrangement with Cargill. In May 2026, the company launched NextCoa in North America through Cargill as its exclusive global B2B distributor, with three additional regional US distributors (Batory Foods, Blendtek, and Gillco Ingredients) supporting manufacturer-level supply. The company has raised approximately $41.7 million in disclosed funding through a 2022 Series A led by UBS O'Connor and Level One Fund, with additional exempt securities offerings in 2023, 2024, and 2025 reflecting ongoing capital deployment to scale commercial production. Founded by Adam Maxwell (Founder and CEO), Voyage Foods operates with an 11-50 employee headcount from its 2500 Campbell Street headquarters and is incorporated in Delaware as Voyage Foods Inc.

Name

Voyage Foods

Legal name

Spinco Foods, Inc.

Website

https://voyagefoods.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Voyage Foods is a B2B food technology company developing cocoa-free, bean-free, and allergen-free ingredient alternatives for food manufacturers using upcycled plant-based inputs like grape seeds, distributed globally via Cargill.

Ownership category

akta.pro rank

Product category

Food Ingredient Manufacturing

NAICS

Chocolate and Confectionery Manufacturing from Cacao Beans (311351), Cookie and Cracker Manufacturing (311821), Perishable Prepared Food Manufacturing (311991)

SIC

Miscellaneous Food Preparations & Kindred Products (2090), Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030)

akta.pro primary industry

Frozen Meal Kits & Skillet Bags (CRADADAK)

Keywords

• Cocoa-free chocolate
• Bean-free coffee
• Allergen-free spreads
• Food ingredient manufacturing
• Sustainable food technology

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. B2B Ingredient Sales: B2B ingredient sales to food manufacturers who purchase Voyage Foods' cocoa-free, coffee-free, and allergen-free ingredients as 1-for-1 replacements for traditional commodities in their products
2. Licensing/Distribution Partnership: Cargill partnership for exclusive global B2B distribution of NextCoa cocoa-free chocolate represents licensing and distribution arrangement with major food ingredients company

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Voyage Foods is a B2B ingredient company that develops and sells sustainable, allergen-free plant-based alternatives to traditional commodity ingredients including cocoa, coffee, and nuts. Its core product lines — cocoa-free chocolate (NextCoa), bean-free coffee, and top-9-allergen-free spreads and fillings — are formulated as 1-for-1 drop-in replacements for use by food manufacturers, confectionery producers, and CPG companies.

Product overview

Voyage Foods is a B2B ingredient company offering sustainable, allergen-free food alternatives that serve as 1-for-1 replacements for traditional foods. The company operates as a platform of three core product lines: Allergen-Free Spreads & Fillings (nut-free products for safe SKU expansion), Cocoa-Free Chocolate (a clean-label 1:1 chocolate replacement for supply stability), and Bean-Free Coffee (a cost-optimized coffee alternative). The company recently launched NextCoa, a cocoa-free chocolate made from upcycled grape seeds developed in partnership with Cargill, which serves as the flagship product distributed exclusively through Cargill's global B2B network. All products address commodity volatility, climate change impacts, and human health concerns including food allergies.

Differentiator

Problem solved

Functional benefit

Brands

• NextCoa: Cocoa-free chocolate alternative made from grape seeds, launched in partnership with Cargill for the North American market.

Products and services

• NextCoa Cocoa-Free Chocolate Cocoa-free chocolate alternative made from upcycled grape seeds, designed to help food companies mitigate cocoa price volatility. Free from major allergens including dairy, soy, peanuts, and tree nuts. Produces 67% less carbon dioxide, uses 95% less water, and has 90% smaller land-use impact compared with conventional chocolate production. Sold as a B2B ingredient to food and beverage manufacturers.
• Cocoa-Free Chocolate Clean-label, 1:1 chocolate replacement built for supply stability, cost efficiency, and a lower environmental footprint. Cocoa-free alternative to traditional chocolate, formulated as a drop-in ingredient for food and beverage manufacturers.
• Bean-Free Coffee Single-ingredient coffee alternative designed to stabilize costs, advance sustainability, and enable greater flexibility in coffee utilization. Over 40% cheaper than traditional coffee. Sold as a B2B ingredient to coffee and beverage manufacturers.
• Allergen-Free Spreads & Fillings Nut-free spreads and fillings free from top 9 allergens, designed for safe SKU expansion to capture growing allergen-free demand. Sold as a B2B ingredient to food manufacturers.

Quantifiable outcome

• 67% lower carbon dioxide emissions compared to conventional chocolate production
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• CargillcoreChannel Partner/ Reseller/ Distributor · 22 May 2026Cargill has partnered with Voyage Foods to launch NextCoa, a cocoa-free chocolate alternative made from grape seeds, in the United States market. Cargill serves as the exclusive global B2B distributor for Voyage Foods. The product is designed to help food companies mitigate cocoa price volatility. The partnership was formed two years prior to the 2026 launch. NextCoa produces 67% less carbon dioxide, uses 95% less water, and has a 90% smaller land-use impact compared with conventional chocolate production. The product won a gold Edison Award for innovation.
• Batory FoodsminorChannel Partner/ Reseller/ Distributor · 15 May 2026Batory Foods serves as a regional distribution partner in the United States for Voyage Foods' NextCoa cocoa-free chocolate ingredient, working with food manufacturers to supply the alternative chocolate product.
• BlendtekminorChannel Partner/ Reseller/ Distributor · 15 May 2026Blendtek serves as a regional distribution partner in the United States for Voyage Foods' NextCoa cocoa-free chocolate ingredient, working with food manufacturers to supply the alternative chocolate product.
• Gillco IngredientsminorChannel Partner/ Reseller/ Distributor · 15 May 2026Gillco Ingredients serves as a regional distribution partner in the United States for Voyage Foods' NextCoa cocoa-free chocolate ingredient, working with food manufacturers to supply the alternative chocolate product.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Atomo Coffee: Atomo produces bean-free, molecular coffee using upcycled plant compounds. It is the closest direct comparable to Voyage's Bean-Free Coffee line, sharing the same B2B ingredient model, sustainability narrative, and target customers (coffee manufacturers seeking cost stability).
• Planet A Foods: Planet A Foods makes cocoa-free chocolate (ChoViva) from oats and sunflower seeds, directly competing with Voyage's NextCoa in the cocoa-alternative space for confectionery manufacturers. Both target the same B2B buyers seeking to decouple from volatile cocoa supply.
• NotCo: NotCo (NotCo.ai) uses proprietary AI and plant-based formulations to create B2B and B2C alternatives to animal-derived foods. It is comparable to Voyage as a plant-based ingredient technology platform selling into CPG manufacturers with sustainability-driven value propositions.

Emerging players

• Perfect Day: Perfect Day produces animal-free dairy proteins via precision fermentation and sells B2B to food manufacturers. Comparable as a venture-backed alternative-ingredient company scaling proprietary food technology through CPG partnerships.
• Motif FoodWorks: Motif FoodWorks develops B2B plant-based ingredient technologies (including alt-proteins and fats) for food manufacturers, similar to Voyage's model of supplying novel ingredients as 1-for-1 commodity replacements to CPG customers.
• C16 Biosciences: C16 Biosciences (now Cacao Sciences) develops alternative fats and oils to replace conflict palm oil in chocolate production. Adjacent to Voyage's cocoa-free platform, both companies target chocolate industry reformulation.
• Shiru: Shiru uses AI-driven protein discovery to develop novel food ingredients for B2B sale to CPG manufacturers. Comparable as a venture-backed ingredient-tech company pairing proprietary technology with a B2B distribution model to food industry buyers.
• Comet Bio: Comet Bio upcycles crop residues (e.g., spent grains, sunflower hulls) into food ingredients such as dietary fibers and syrups. Comparable to Voyage's upcycled-grape-seed positioning in the circular-economy B2B ingredient space.

Broad incumbents

• Ginkgo Bioworks: Ginkgo Bioworks is a publicly-traded synthetic biology platform that develops engineered microbes and food ingredients (cultured flavors, proteins) for CPG customers. Comparable as a much larger incumbent in the alternative-ingredient technology space serving similar B2B customers.
• Beyond Meat: Beyond Meat is a publicly-traded plant-based food company with a strong ESG narrative and food-service/retail CPG presence. Comparable as a broader plant-based food-tech incumbent addressing commodity sustainability concerns through B2B and B2C channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/voyagefoods
• Facebookfacebook.com/voyagefoods
• LinkedInlinkedin.com/company/voyage-foods

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds6 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Voyage Foods