Fruitist, the healthy snacking company famous for its jumbo blueberries, has raised $150 million in an equity funding round led by J.P. Morgan Asset Management, with Ray Dalio’s family office increasing its stake. The company is now valued at over $1 billion and is rapidly expanding distribution in the $800 billion snacking market.
The new funds will support global retail expansion, including Fruitist Snack Cups — single-serve blueberry packs — and the new Legend Super Jumbo blueberries. In the U.S., Fruitist is already sold at Costco, Trader Joe’s, Walmart, Whole Foods, and more, while European distribution is growing quickly.
CEO Steve Magami said the investment will go into expanding production, cold storage, and automation to meet demand, which currently exceeds supply. The company has raised $443 million in total equity capital to date.
Fruitist ranks No. 18 on the 2025 CNBC Disruptor 50 list and is branching into cherries, raspberries, and blackberries, with global rollout planned next year. Analysts highlight the strong growth of the “better-for-you” snacking segment, driven by health trends, wellness culture, and GLP-1 weight loss drug adoption.
Magami added, “We aim to build the largest healthy snacking business in the world,” emphasizing premium, ready-to-eat berries as a new category distinct from commodity blueberries.
