Agrovision Secures $100 Million in Equity Financing to Propel Superfruit Revolution
Agrovision, a leading fully vertically integrated superfruit company, has successfully closed $100 million in equity financing. This investment round, led by Aliment Capital, also saw participation from prominent new and existing investors, including Steve Kaplan, Co-Founder of Oaktree Capital Management.
Steve Magami, Co-founder and CEO of Agrovision, emphasized the importance of comprehensive technological innovation in their mission. “Achieving year-round, flavorful superfruit requires advancements at every level—from genetics and systems to artificial intelligence. We are entering a new era of healthy snacking, and we are proud to spearhead this transformation in the superfruit sector.”
Agrovision is renowned for its premium selection of superfruits, including blueberries, raspberries, blackberries, and cherries, marketed under the Fruitist and Big Skye brands. Their hand-picked berries, such as Jumbo blueberries, aromatic red raspberries, and tangy blackberries, offer a consistently superior taste experience. In the U.S., Fruitist supplies numerous retailers, including Costco, Giant, Publix, Sprouts, Trader Joe’s, Wakefern, Walmart, and Whole Foods, and is the Official Snack Partner of D.C. United. Agrovision’s global reach includes top supermarkets, club stores, and upscale independent retailers across Asia, the Middle East, Europe, and the UK.
The Surge in Healthy Snacking
The company’s valuation has surpassed $1 billion, reflecting the robust growth of Fruitist and Big Skye in retail and the booming demand for healthy snacks, projected to exceed $100 billion this year. This growth aligns with the increasing consumer preference for berries, which is expected to reach $32 billion in the next five years. Additionally, the influence of GLP-1 has led to a notable 20% rise in fresh produce purchases among prescription users.
Ben Belldegrun, Co-founder and Managing Partner of Aliment Capital, noted, “Berries are a staple fruit, and we’re witnessing a shift in consumer investment in health and spending habits. Agrovision’s unique approach of owning the full stack allows them to guarantee high-quality superfruit year-round, regardless of location. Their dedication to sustainable and innovative farming practices is impressive, and we believe their model will set a new global benchmark for healthy snacking.”
Ensuring Freshness and Innovation
Agrovision has invested over $400 million in global expansion, advanced genetics, artificial intelligence, and other proprietary technologies to enhance the healthy snacking experience. Their vertically integrated platform ensures consistent and reliable supply, even in the face of industry challenges.
Operating across exceptional micro-climates in Peru, Mexico, Morocco, the USA, Egypt, India, and China, Agrovision provides year-round supply to premium retailers in North America, the UK, Europe, China, Southeast Asia, and the Middle East.
A key area of investment is freshness and shelf life, with Agrovision partnering with RipeLocker, a Seattle-based ag-tech innovator. This collaboration offers a cost-effective solution that extends berry shelf life threefold compared to conventional methods without compromising quality. Agrovision’s AI technology assesses each berry’s quality, ensuring global consistency. Their expertise spans genetics R&D, postharvest storage, data analysis, robotics, bee pollination, and more, all supported by regenerative farming practices that enhance soil health and sequester carbon.
Commitment to Sustainability and Community
Agrovision’s sustainability strategy focuses on increasing biodiversity, combating climate change, and improving local communities’ quality of life. The company, recognized with multiple awards and aligned with 11 of the 17 U.N. Sustainable Development Goals, is dedicated to global economic stability and social responsibility, including advocacy for women’s rights and environmental stewardship.
Agrovision supports stable employment in diverse sectors such as transportation, retail, medical services, and IT, contributing to local economic growth. In Peru alone, up to 15,000 field workers, many from disadvantaged backgrounds, are employed, with over half being women who gain financial independence and enhanced social status. This employment model fosters community development and empowers women, marking significant progress in their journey toward economic empowerment and self-sufficiency.
As Agrovision enters its next growth phase, the company plans to invest in future crops, superfruit varieties, and scaling operations to meet the accelerated and heightened retailer demand for Fruitist and Big Skye’s flavorful superfruits.
