Fruitist taps into the booming healthy snacking category with $150 million in equity financing led by JP Morgan and other investors.
The producer of premium, year-round Jumbo Blueberries (formerly Agrovision) and snack cups will use its new injection of capital towards meeting demand for its packaged fresh fruit snacks, says Steve Magami, co-founder and CEO of Fruitist.
Specifically, Fruitist’s new funding will go towards boosting technology and AI capabilities that will “ensure superior quality and flavor,” while continuing its direct-to-retail distribution, he adds. Fruitist is currently on shelves nationwide in retailers like Costco, Walmart and Whole Foods.
“We are building an intelligence platform powered by our proprietary data, millions of monthly berry-level data points collected across our vertically integrated operations. Our advanced analytics continuously process data from diverse microclimates and growing environments to deliver precise harvest timing and optimize every stage of the value chain,” Magami said.
To achieve its jumbo blueberry size, Fruitist uses AI and proprietary genetics from exclusive varietals that are non-GMO and verified with the non-GMO Project certification. The company also offers blackberries, raspberries and cherries.
Highlighting wellness, convenience and premiumization
Fruitist intends to leverage its fresh fruit positioning to deliver an alternative to processed snacks, which accounts for 42% of added sugar consumption among children and adolescents, according to the company.
Magami identifies three consumer trends driving growth in the fresh snacks segment:
- Health and wellness: Consumers increasingly are prioritizing foods that support their health, with data showing almost 60% are willing to pay more for food that contributes to their wellness.
- Convenience: Fresh, ready-to-eat superfruits are an alternative and healthy solution, offering single-ingredient snacks with no additives to support busy consumers.
- Premiumization: Consumers want fruit that is “bigger, tastier and better looking” signaling a need for high quality snacks.
Fruitist’s 4-ounce Snack Cups, which feature an on-the-go version of its 9.8-ounce Jumbo Blueberries deliver on portability for consumers and show that “fruit can, and should, compete directly with the traditional snack aisle,” Magami emphasized.
Solving ‘berry roulette’
Magami points to Fruitist’s year-round availability as its “primary differentiator.”
“We have solved ‘berry roulette.’ Consumers are often faced with an unpredictable experience – berries that are bland, sour or mushy,” he said.
The company can deliver on consistency by controlling several aspects of its value chain.
“We own or actively manage the critical components, from elite varietal selection to our global farm operations and direct-to-retail distribution. This control ensures we deliver a superior consumer experience and premium quality year-round,” Magami said.
University and athletic partnerships drive healthy snacking visibility
The company’s partnerships with Chicago Bears quarterback Caleb Williams, the University of Southern California and DC Athletics “give us a real-world way to connect the brand to how people actually live,” Mogami said.
“When you see Fruitist on a college campus like USC or with athletes like Caleb Williams, it reinforces the idea that healthy food can be part of daily performance and routine – not just something you reach for when you’re trying to eat better,” he said.
Mogami emphasizes that the company’s approach to partnerships is rooted in “authentic” messaging, where “it’s less about the logos on a field and more about showing that fresh, natural snacks” have a place in the wider snacking category.
