Gunderson Dettmer represented client Level One Fund as it co-led the $36 million Series A financing of Voyage Foods alongside UBS O’Connor. Voyage Foods uses molecular engineering to create 1:1 replacements for staples such as chocolate, coffee, and peanut butter at a lower cost and with better environmental impact, making it an attractive source of ingredients for other food companies. The new capital will enable it to bring its products to market and scale up production.

In the announcement of the transaction, Founding Partner of Level One Fund James Stewart said, “Voyage Foods is a paradigm shift for food tech. It proves that innovations in food don’t need to cost more than incumbent products or be filled with a laundry list of ingredients you’ve never heard of. The unique technology and process behind this quantum leap can liberate us from the volatile commodity prices, humanitarian issues, and negative environmental impacts tied to the mass production of cocoa, coffee, and many other crops.”

The Gunderson deal team was led by Jerry Ku and included Bella Thornton-Clark, Jie Wang, and Erika Athens.

Companies:
Level One Fund
Voyage Foods