Superfruit Startup AgroVision Invents the Newest Agro-Tech Unicorn

Recently, the agritech industry has been in good shape when it comes to raising large rounds by startups

Los Angeles-based AgroVision is the latest. The agtech startup has locked down a $100 million funding round at a $1 billion valuation, according to a Bloomberg report. The new round was led by Aliment Capital.

AgroVision is a grower, packer, shipper and marketer of superfruits, such as cherries and blueberries, selling its fruit under the Fruitist and Big Skye brands. The company also uses certain technologies in its cultivation — using proprietary genetics and data analysis.

Big Deals

The ag industry has had its ups and downs, but the last week was a good one.

Last week, Monarch Tractor — maker of an all-electric, optional smart tractor — raised $133 million in Series C funding co-led by Astanor Ventures and HH-CTBC Partnership. The company also offers the WingspanAI platform, which gives farmers access to farm data, vehicle location tracking, crop image collection and more to help close the industry’s profit gap.

Perhaps these two rounds could wake up a somewhat dormant agtech sector. So far this year, agriculture and livestock startups have raised just $2.3 billion in a modest 365 deals, according to Crunchbase data.

The pace is slower than last year, when similar startups raised $4.6 billion across 944 deals.

Both of these numbers are well below the industry records set in 2021 and 2022, when startups raised $10 billion and $9.4 billion, respectively.

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Illustration: House of Guzman