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Superfruit producer Agrovision has successfully raised $100 million in equity financing, achieving a valuation exceeding $1 billion.

The round, led by Aliment Capital and supported by investors including Steve Kaplan, co-founder of Oaktree Capital Management, aims to bolster global distribution and accelerate product innovation.

The financing comes on the heels of significant growth for Agrovision, which operates under the Fruitist and Big Skye brands. The company has nearly tripled its sales over the past three years, capitalising on the growing demand for healthy snacks, a market projected to surpass $100 billion this year.

“Delivering more flavourful superfruit year-round requires full stack innovation—optimizing across every layer of technology – from genetics and systems to AI,” commented Steve Magami, co-founder and CEO of Agrovision.

The company specialises in premium superfruits such as blueberries, raspberries, blackberries and cherries, which are marketed for superior flavour and quality.

Agrovision's products are distributed to major retailers across the US, including Costco, Walmart and Whole Foods, as well as internationally in markets like Asia, Europe and the Middle East.

The company's growth aligns with a broader trend in consumer behaviour, particularly the increasing purchases of fresh produce, which have risen notably among users of GLP-1 medications.

Ben Belldegrun, co-founder and managing partner of Aliment Capital, highlighted Agrovision's unique business model, which integrates the entire supply chain. This vertical integration allows the company to ensure consistent quality and availability of its superfruits, regardless of geographic location.

“Agrovision is truly the ‘right place, right time’ with its unique model,” Belldegrun noted.

The company's commitment to year-round supply is supported by substantial investments – over $400 million in global expansion, new genetics and proprietary technology aimed at enhancing its products' freshness and shelf life.

A partnership with ag-tech firm RipeLocker has also enabled Agrovision to extend berry shelf life significantly without compromising quality.

Agrovision's sustainability initiatives also play a crucial role in its operations. The company follows a three-pronged strategy focusing on increasing biodiversity, mitigating climate change and improving local community welfare.

Agrovision employs up to 15,000 field workers in Peru, with a significant portion being women, thus promoting economic empowerment and community development.

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