The funding comes after a period of meteoric growth as Agrovision, sold under the Fruitist and Big Skye brands, nearly tripled sales in the past three years
Los Angeles, CA. — Agrovision, the healthy superfruit platform and the leading large-scale, fully vertically integrated superfruit business, has closed $100 million in equity financing from Aliment Capital alongside other marquee new and existing investors, including Steve Kaplan, Co-Founder of Oaktree Capital Management.
“Delivering more flavorful superfruit year-round requires full stack innovation – optimizing across every layer of technology – from genetics and systems to AI,” said Steve Magami, Co-founder and CEO of Agrovision. “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 premium superfruits—blueberries, raspberries, blackberries, and cherries —sold under Fruitist and Big Skye brands. Naturally delicious, super sweet, and bursting with flavor, their hand-selected berries, including Jumbo blueberries, fragrant red raspberries, and tangy blackberries, offer a consistently better berry experience. In the U.S., Fruitist supplies a large number of retailers, including Costco, Giant, Publix, Sprouts, Trader Joe’s, Wakefern, Walmart and Whole Foods, and is the Official Snack Partner of D.C. United. Globally, Agrovision serves many leading supermarkets, club stores, and high-end independent retailers across Asia, the Middle East, Europe, and the UK.
The Rise in Healthy Snacking
The $1+ billion 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. 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. 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.”
Supercharging Superfruits 365 Days a Year
Agrovision 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.
From its owned and controlled large-scale land and water assets in most of the world’s most 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.
Advanced Technology and AI for Optimal Freshness
One key area in which Agrovision invests in R&D and commercializing proprietary technology is freshness and shelf life. Their 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 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.
Enabling Wellness for People and the Planet
Agrovision’s sustainability strategy follows a three-pronged model: increasing biodiversity, mitigating climate change, and enhancing the quality of life for local communities. 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.
Agrovision offers stable employment across diverse transportation, retail, medical services, and IT sectors, creating a robust local economy. 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, gaining financial independence, enhanced social status, and personal pride. This employment model transforms lives, fosters community growth, and empowers women, many of whom are opening bank accounts for the first time, marking a significant milestone in their journey toward economic empowerment and self-sufficiency.
In its next growth phase, the company will 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.
To learn more about Agrovision, visit AgrovisionCorp.com.
For details on Agrovision’s sustainability practices and their impact on enhancing the quality of life in the local communities where they operate, visit agrovisioncorp.com/sustainability-2023/.
