Agrovision, the healthy superfruit platform and fully vertically integrated superfruit business announced it had closed $100 million in equity financing from Aliment Capital, along with marquee new and existing investors, including Steve Kaplan (co-founder of Oaktree Capital Management). And Agrovision is known for its premium superfruits: blueberries, raspberries, blackberries, and cherries (sold under Fruitist and Big Skye brands).
The company’s hand-selected berries, including blueberries, red raspberries, and blackberries, are naturally delicious, and they offer a consistently better berry experience. In the U.S., Fruitist supplies many retailers, including Costco, Giant, Publix, Sprouts, Trader Joe’s, Wakefern, Walmart, and Whole Foods, and is the Official Snack Partner of D.C. United.
The $1+ billion valuation follows Fruitist and Big Skye’s retail growth and a recent boom in healthy snack consumption, which is expected to reach over $100 billion this year. It also follows a trend of consumer demand and annual growth for berries, which are expected to reach $32 billion in the next five years. And the impact of GLP-1 has led to a notable shift in consumer behavior, with a 20% increase in fresh produce purchases by prescription users.
Agrovision invested over $400 million in worldwide expansion, new genetics, AI, and other proprietary technology to deliver an elevated healthy snacking experience. And the predictability of Agrovision’s vertically integrated platform ensures consistency and reliability in the face of industry challenges.
From its owned and controlled large-scale land and water assets in exceptional micro-climates within Peru, Mexico, Morocco, USA, Egypt, India, and China, Agrovision has developed year-round supply for leading premium-oriented retailer partners across North America, the UK, Europe, China, Southeast Asia, and the Middle East.
One area in which Agrovision invests in R&D and commercializing proprietary technology is freshness and shelf life. And its partnership with RipeLocker (a Seattle-based ag-tech leader) introduces a cost-effective solution that extends berry shelf life three times longer than conventional methods without compromising quality or eating experience. Agrovision’s AI technology scans and assesses each berry’s quality, ensuring consistent premium standards globally.
The company also excels in genetics R&D, postharvest storage, data, robotics, bee pollination, and more. Supported by regenerative farming practices, Agrovision enhances soil health and sequesters carbon, offering superior superfruits while promoting sustainable agriculture.
Agrovision’s sustainability strategy follows a three-pronged model – which includes increasing biodiversity, mitigating climate change, and enhancing the quality of life for local communities. The company is also recognized fo multiple awards and it is aligned with 11 of the 17 U.N. Sustainable Development Goals.
Agrovision provides stable employment across diverse transportation, retail, medical services, and IT sectors, creating a robust local economy. And up to 15,000 field workers in Peru alone, many from impoverished areas, are included in the workforce. Over half of these workers are women, many of whom are opening bank accounts for the first time.
In its next growth phase, the company will also invest in future crops, superfruit varieties, and scale operations due to accelerated and higher-than-anticipated retailer demand for Fruitist and Big Skye’s crunchy and flavorful superfruits.
KEY QUOTES:
“Delivering more flavorful superfruit year-round requires full stack innovation—optimizing across every layer of technology—from genetics and systems to AI. A new era has begun, with the generational shift to healthy snacking, and we are happy to lead a revolution in superfruit.”
- Steve Magami, Co-founder and CEO of Agrovision
“Berries are an iconic fruit, and we’ve observed a shift in how people are investing in their health and spending at the store. Agrovision is truly the ‘right place, right time’ with its unique model of owning the full stack, enabling them to guarantee customers high-quality superfruit throughout the year regardless of their geographic location. We’ve seen Agrovision’s commitment to sustainable and innovative farming practices firsthand, and we are confident that their approach will set a new global standard for healthy snacking.”
- Ben Belldegrun, Co-founder and Managing Partner of Aliment Capital
