Agrovision’s innovative approach to delivering premium superfruits year-round receives significant boost from Aliment Capital and other key investors.
Agrovision, a leading fully integrated superfruit business, has secured $100 million in equity financing from Aliment Capital and other investors, including Steve Kaplan, Co-Founder of Oaktree Capital Management. This substantial investment is aimed at driving Agrovision’s mission to deliver premium superfruits year-round through advanced technology and sustainable practices.
Agrovision, recognized for its high-quality blueberries, raspberries, blackberries, and cherries, markets its products under the Fruitist and Big Skye brands. These berries are known for their exceptional taste and consistency, supplying major U.S. retailers such as Costco, Publix, Trader Joe’s, and Walmart. Internationally, Agrovision partners with leading supermarkets and retailers across Asia, the Middle East, Europe, and the UK.
The investment comes amidst a booming market for healthy snacks, with the industry projected to surpass $100 billion this year. The demand for berries specifically is on the rise, with expected growth to $32 billion over the next five years.
According to Ben Belldegrun, Co-founder and Managing Partner of Aliment Capital, the market is ripe for Agrovision’s unique model, which guarantees high-quality superfruit availability throughout the year due to its full-stack ownership approach. “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,” stated Belldegrun.
Agrovision’s strategy includes significant investments in genetics, artificial intelligence, and other proprietary technologies, totaling over $400 million. These advancements ensure the consistent delivery of fresh, high-quality superfruits. A notable partnership with RipeLocker, a Seattle-based ag-tech leader, exemplifies this innovation. This collaboration has led to a solution that extends berry shelf life three times longer than conventional methods, maintaining quality and taste.
Steve Magami, Co-founder and CEO of Agrovision emphasized the importance of full-stack innovation to meet the rising demand for healthy snacking. “A new era has begun, with the generational shift to healthy snacking, and we are happy to lead a revolution in superfruit,” said Magami.
Agrovision’s operations span multiple countries, including Peru, Mexico, Morocco, the USA, Egypt, India, and China, allowing for a consistent year-round supply. Their vertically integrated platform, which includes owning and controlling large-scale land and water assets, ensures predictability and reliability in the face of industry challenges. The company’s AI technology further enhances product quality by scanning and assessing each berry, ensuring premium standards globally.
Beyond technological advancements, Agrovision is deeply committed to sustainability and social responsibility. The company’s strategy focuses on increasing biodiversity, mitigating climate change, and improving the quality of life for local communities.
As stated in the press release, Agrovision’s efforts align with 11 of the 17 U.N. Sustainable Development Goals and have been recognized with multiple awards.
Agrovision’s impact on local economies is significant, particularly in Peru, where the company employs up to 15,000 field workers, many from impoverished areas. Over half of these workers are women, gaining financial independence and enhanced social status. This employment model not only transforms lives but also fosters community growth and empowerment.
Looking ahead, Agrovision plans to invest further in developing new superfruit varieties and scaling operations to meet the accelerated retailer demand for its products. The company’s commitment to delivering superior superfruits through innovative and sustainable practices positions it as a leader in the healthy snacking revolution.
