Agrovision secures USD 100M to drive global expansion and innovation

USA – Agrovision has announced the successful closure of a USD 100 million funding round, aimed at expanding its berry business and boosting product innovation.

The funding, led by Aliment Capital and supported by investors such as Steve Kaplan, Co-Founder of Oaktree Capital Management, values the company at over $1 billion.

The new capital will enable Agrovision to enhance its global distribution network and advance its product development. Steve Magami, co-founder and CEO of Agrovision, highlighted the company’s focus on improving its superfruit offerings.

“Delivering more flavourful superfruit year-round requires full-stack innovation – optimising across every layer of technology – from genetics and systems to AI,” he explained.

“A generational shift towards healthy snacking is underway, and we are excited to be at the forefront of this change.”

Agrovision, known for its premium blueberries, raspberries, blackberries, and cherries, markets its products under the Fruitist and Big Skye brands.

The company’s berries are available year-round through leading supermarkets across the US, Asia, Europe, and the Middle East. Its farms are strategically located in Peru, Mexico, Morocco, the US, Egypt, India, and China.

The global market for healthy snacks is projected to exceed $100 billion this year, with berry sales expected to reach USD 32 billion within the next five years.

Agrovision also notes that new GLP-1 diabetes and weight loss medications have shifted consumer behavior, leading to a 20% increase in fresh produce purchases among prescription users.

Ben Belldegrun, co-founder and managing partner of Aliment Capital, emphasized Agrovision’s strategic timing and unique approach.

“Berries are an iconic fruit, and we’ve seen a notable shift in how people invest in their health and spend at the store,” he said.

“Agrovision is positioned perfectly with its integrated model, allowing them to provide high-quality superfruit year-round, no matter where customers are located.”

Agrovision has previously invested over USD 400 million in global expansion, new genetics, and advanced technology, including artificial intelligence.

The company’s vertically integrated platform is designed to ensure consistency and reliability, even amidst industry challenges.

“We’ve witnessed Agrovision’s dedication to sustainable and innovative farming practices,” Belldegrun added. “Their approach is set to establish a new standard in the healthy snacking market.”