Fruit snack maker Reelfruit raises $3mn to expand production

RealFruit, a dried fruit snack brand, has recently secured a substantial $3 million Series A funding to support its expansion plans and increase its product offering. The company is set to embark on a new phase of growth, with a specific focus on boosting exports by up to 15 million metric tons in the first year following this successful fundraise. Affi Williams, the CEO of RealFruit, shared insights into the company's strategy and vision for the future in a recent interview on CNBC Africa. Williams expressed gratitude for the opportunity to discuss RealFruit's milestones and the significant progress made in securing funding for expansion. Acknowledging the challenges of agro-processing as a business venture, Williams highlighted the company's unique positioning and intentional business model that prioritizes market understanding and brand building. With nearly a decade of experience in the industry, RealFruit has cultivated a deep understanding of the Nigerian market, enabling strategic scaling and market penetration. The CEO emphasized the importance of perseverance and persistence in navigating the complexities of the market, underscoring the company's commitment to quality and customer satisfaction. Williams credited the company's success to its focused approach in battling market challenges and ensuring a sustainable supply of quality raw materials to meet production demand. RealFruit's investment in capacity development and farmer partnerships reflects its dedication to enhancing the local agricultural value chain. As RealFruit prepares for substantial growth, Williams addressed concerns about raw material supply chain sustainability and local capacity. The company has proactively engaged with farmers and conducted extensive research to strengthen its value chain and ensure the sourcing of high-quality raw materials. By adopting a hybrid supply model that combines working with farmers for the majority of supply and owning some of its supply chain, RealFruit aims to achieve consistency and stability in its production processes. Williams emphasized the significance of collaboration with farmers and neighboring agribusinesses to support sustainable growth and optimize production efficiency. RealFruit's strategic expansion plans align with its core values of quality, innovation, and market responsiveness. The company's holistic approach to agribusiness underscores its long-term commitment to driving positive economic impact and fostering local agricultural development. In conclusion, RealFruit's successful funding round marks a significant milestone in the company's journey towards expansion and increased market presence. As the dried fruit snack brand sets its sights on enhancing exports and diversifying its product offerings, CEO Affi Williams remains optimistic about the growth prospects ahead and the potential for RealFruit to make a lasting impact in the agribusiness sector.