Superfruit platform Agrovision has closed $100 million in equity financing from Aliment Capital, alongside other new and existing investors, according to a news release.
The group of investors include Steve Kaplan, co-founder of Oaktree Capital Management, the release said.
“Delivering more flavorful superfruit year-round requires full stack innovation — optimizing across every layer of technology — from genetics and systems to AI,” Steve Magami, co-founder and CEO of Agrovision, said in the release. “A new era has begun, with the generational shift to healthy snacking, and we are happy to lead a revolution in superfruit.”
Agrovision is known for superfruits, such as blueberries, raspberries, blackberries and cherries, sold under Fruitist and Big Skye brands, the release said.
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 oartner of D.C. United, the release said.
Globally, Agrovision serves many leading supermarkets, club stores and high-end independent retailers across Asia, the Middle East, Europe and the United Kingdom.
The $1 billion-plus valuation follows Fruitist and Big Skye’s retail growth and the recent boom in healthy snack consumption, which is expected to reach over $100 billion this year, the release said. In addition, the valuation follows a trend of consumer demand and annual growth for berries, which are expected to reach $32 billion in the next five years. Additionally, 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.
“Berries are an iconic fruit, and we’ve observed a shift in how people are investing in their health and spending at the store,” said Ben Belldegrun, Co-founder and managing partner of Aliment Capital. “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.”
Agrovision says it has invested over $400 million in global expansion, new genetics, artificial intelligence, and other proprietary technology to deliver an elevated healthy snacking experience. The predictability of Agrovision’s vertically integrated platform ensures consistency and reliability in the face of industry challenges, the release said.
From its owned and controlled large-scale land and water assets in most of the world’s most exceptional microclimates, within Peru, Mexico, Morocco, the U.S., Egypt, India,and China, Agrovision says it has developed year-round supply for leading premium-oriented retailer partners across North America, the U.K., Europe, China, Southeast Asia and the Middle East.
One key area in which Agrovision invests in R&D and commercializing proprietary technology is freshness and shelf life, according to the release. Their partnership with RipeLocker, a Seattle-based agtech leader, introduces a cost-effective solution that extends berry shelf life three times longer than conventional methods without compromising quality or eating experience, the company said.
Agrovision’s artificial-intelligence technology scans and assesses each berry’s quality, ensuring consistent premium standards globally. The company says it 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, delivering superior superfruits while promoting sustainable agriculture, the release said.
Agrovision’s sustainability strategy follows a three-pronged model: increasing biodiversity, mitigating climate change, and enhancing the quality of life for local communities, the release said.
Recognized with multiple awards and aligned with 11 of the 17 U.N. Sustainable Development Goals, Agrovision is committed to global economic stability and social responsibility, including advocating for women’s rights and environmental care, the release said.
