Cocoa-Free Chocolate Maker Voyage Foods Raises $52 Million
The company also recently signed a distribution agreement with Cargill.
Voyage Foods’ chocolate is made with blended vegetable oils, sugar, grape seeds and sunflower protein.
Photographer: Noel Barnhurst/Voyage Foods
A California startup that’s making cocoa-free chocolate in a bid to sidestep the volatility of commodities markets has raised $52 million in a funding round.
Voyage Foods’ chocolate is made with blended vegetable oils, sugar, grape seeds and sunflower protein. It also makes a peanut-free spread with a mix of seeds, sugar, legumes and palm oil and produces a hazelnut-free Nutella-style spread and bean-free coffee. The company’s founder, Adam Maxwell, sees an opportunity as demand grows for commodities such as coffee beans and cocoa and extreme weather disrupts production, making them scarcer.