Fruitist, a Los Angeles-based, agritech-driven snacking brand that uses hardware, software, and AI to grow and distribute berries, has raised $150 million in equity financing led by J.P. Morgan Asset Management. The family office of billionaire Ray Dalio has also doubled its investment, bringing the company’s total funding since its founding to $443 million.
Fruitist aims to expand its operational capacity, strengthen its position in the global fresh produce market, and advance its mission to make nutritious, fresh fruit as convenient and appealing as traditional packaged snacks with new funding.
Founded as Agrovision in 2012, Fruitist has evolved from a grower-exporter into a vertically integrated global brand, now valued at over $1 billion with 12,500 retail locations across North America and 40 countries worldwide.
Growing Retail Presence and Sustainable Product Reach
Fruitist’s products, including jumbo blueberries, snack cups, blackberries, raspberries, and cherries are sold through major US retailers such as Costco, Walmart, Trader Joe’s, Publix, and Whole Foods. The company has also expanded its marketing presence through partnerships with USC Athletics, D.C. United, and NFL quarterback Caleb Williams, promoting healthy eating habits among athletes and younger audiences.
Consumers are rethinking what they reach for between meals. We’re proving that fresh, flavorful, and nutritious snacks can scale globally. This investment will help us meet rising demand while continuing to redefine what consumers expect from fruit.
As per news published in CNBC, Fruitist’s growth isn’t limited to store shelves. Its ‘Snack Cups,’ single-serve packs of fresh blueberries, have expanded from 30 stores in Spain to more than 750, and are expected to reach over 1,000.
The company plans to introduce the product to the U.S., where most major retailers are expected to stock it. Fruitist’s CEO Steve Magami described the growth as ‘explosive,’ noting that the latest product, the larger ‘Legend Super Jumbo’ blueberries, continues to exceed expectations.
Fruitist secured the 18th spot on the 2025 CNBC Disruptor 50 list, recognized for transforming the snack industry through its commitment to consistent quality, flavor, and innovation in fresh fruit products.
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Processed snacks remain a major component of global diets. Fruitist aims to address this public health issue by making fresh fruit more accessible and convenient. In the US, snacks account for 42% of added sugar consumption among children and adolescents, according to research published by National Center for Biotechnology Information (NCBI).
According to Fruitist, the company’s business model is designed to align with the United Nations Sustainable Development Goals (SDGs). It aims to integrate sustainability into its operations and agricultural practices, with the goal of supporting social and economic development in the communities where it operates.
Scaling Advanced Tech Across Supply Chain
The company conducts Research and Development (R&D) programs to develop berry varietals optimized for flavor, nutritional content, climate resilience, and shelf life. AI algorithms are used to predict optimal planting and harvesting times, perform quality assurance checks, and manage seasonal worker scheduling.
The company has partnered with RipeLocker, which develops portable, low-atmosphere vacuum chambers for extending the post-harvest life of perishable products, enabling Fruitist to keep its berries fresh for up to 12 weeks. Fruitist also plans to further expand the use of AI across its operations to enhance efficiency and product quality.
Fruitist has built a moat around its business and established itself as a leader in the premiumization of berries and the better-for-you category. We believe Fruitist is positioned for durable expansion, supported by control of its value chain and significant organic growth potential.
The company recently appointed Rich Sullivan as Chief Financial Officer and added Thomas Seifert and June Yang to its Board of Directors. Jim Trahanas joined as the company’s first Chief Technology Officer, supporting initiatives to apply advanced data and logistics technologies across the supply chain.
By integrating AI, advanced breeding techniques, and innovative storage solutions, Fruitist has developed a premium product in a traditionally commoditized market. This strategy could provide a blueprint for other agricultural enterprises aiming to differentiate themselves and achieve higher margins.
