Fruitist, the berry farming enterprise known for jumbo blueberries announced on Wednesday a $150 million funding round. JPMorgan Asset Management led the investment, while billionaire Ray Dalio‘s family office increased its backing in the startup. Chicago Bears quarterback Caleb Williams‘ investment firm, 888 Midas, also joined Fruitist’s investor roster.
This fresh capital brings total equity funding to $443 million since the company began operations, valuing Fruitist at approximately $1 billion, CNBC reported.
The fruit brand now reaches consumers through more than 12,500 retail locations across North America and 40 countries, according to its statement. Distribution includes major chains such as Costco (NASDAQ:COST), Giant, Publix, ShopRite, Sprouts Farmers Market (NASDAQ:SFM), Trader Joe’s, Wakefern, Walmart (NYSE:WMT), and Whole Foods.
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"Consumers are rethinking what they reach for between meals," Fruitist co-founder and CEO Steve Magami said in the company's statement. "At Fruitist, we're proving that fresh, flavorful, and nutritious snacks can scale globally, and that fruit, when done right, can truly compete with the snack aisle."
42% Of Children’s Added Sugar Comes From Snacks, Fruitist Tackles This Growing Health Crisis With Blueberries
The company aims to address one of the biggest nutrition issues facing consumers today. Research from the National Center for Biotechnology Information shows that snacks make up about 42% of the added sugar consumed by children and teenagers in the U.S.
Fruitist says it promotes its products as a cleaner alternative to the processed snacks that dominate global diets.
Fruitist's main product features jumbo blueberries, but the company says it is also scaling production of other fruits, including blackberries, raspberries, and cherries. The brand launched Fruitist Snack Cups this year, which are single-serve, grab-and-go containers of fresh blueberries.
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“Our strategy has invested in Fruitist in recognition of the exceptional results they've achieved and the moat they've built around the business," J.P. Morgan Asset Management Managing Director Brad Demong said in Fruitist's statement. "We believe that Fruitist, with control of its value chain, significant organic growth opportunity ahead, and positioning as a driving force of premiumization of berries and the better-for-you category, will realize durable expansion."
Former McKinsey, Google Cloud, And Cloudflare Execs Joined Fruitist
Fruitist expanded its visibility through partnerships with Williams, University of Southern Carolina Athletics, and Major League Soccer's D.C United. According to the company, these collaborations aim to promote healthier snacking choices to athletes, students, and community members beyond traditional retail environments.
Fruitist also strengthened its team to support rapid growth. Rich Sullivan joined as chief financial officer and brought more than 25 years of experience leading finance teams at high-growth public companies, including senior roles at DreamWorks, Twitter, and, most recently chief financial officer at SurveyMonkey.
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The board of directors welcomed Thomas Seifert, drawing on his position as Cloudflare (NYSE:NET) chief financial officer. Also joining the board was June Yang, who most recently led AI and industry solutions at Google Cloud and previously held senior product and engineering roles at VMware.
Meanwhile, Jim Trahanas became Fruitist's first chief technology officer, arriving from McKinsey & Company, where he led technology transformations in agriculture and industrial sectors.
Fruitist originated as the flagship brand of Agrovision, founded in 2012, before evolving into a standalone global consumer brand. The company says it maintains backing from top-tier institutional investors and employs leadership talent with experience from major consumer packaged goods firms like The Wonderful Company and Nestlé.
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