Apeel Sciences Valuation, Funding & Investors

Apeel Sciences is valued at $2B as of August 2021.

Last Apeel Sciences valuation

$2B

Series E · Aug 2021

Last Apeel Sciences funding round

$250M

Series E · Aug 2021

Cumulative funding Apeel Sciences raised

$640M

across 7 funding rounds

Key investors in Apeel Sciences

  • Upfront Ventures
  • Entrada Ventures
  • Andreessen Horowitz
  • Temasek
  • S2G Investments
  • Viking Global Investors

Apeel Sciences Overview

About Apeel Sciences

Apeel Sciences is a Santa Barbara-based agtech company producing plant-derived coatings that extend shelf life for avocados, apples, mangos, cucumbers, and citrus fruits. The edible barriers reduce water loss and oxidation, enabling longer supply chains without refrigeration for growers in the United States, Mexico, and Europe.


Founded

2012

HQ

United StatesSanta Barbara, CA

Website

apeel.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2B (Aug 2021)

Apeel Sciences Valuation

Apeel Sciences is currently valued at $2B, based on its Series E in August 2021.

The $250M round was led by Temasek.

Apeel Sciences' valuation has grown 2.0x from $1B at its Series D in May 2020 to $2B in August 2021, across 2 priced rounds.

Apeel Sciences valuation by funding round

Apeel Sciences valuation by funding round
DateStageValuation
Aug 2021Series E$2B
May 2020Series D$1B

Apeel Sciences Funding History

Apeel Sciences has raised a total of $640M across 7 funding rounds.

Apeel Sciences' first fundraising round was a $1M seed round in December 2013. The most recent completed round was a $250M Series E in August 2021.

Apeel Sciences funding rounds

Apeel Sciences funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2021Series ETemasek (lead)$250M$2BApeel Sciences, a Santa Barbara-based agtech company founded in 2012 from UC Santa Barbara, develops plant-derived, edible coatings that extend the shelf life of fresh fruits and vegetables by slowing water loss and oxidation, reducing food waste which affects up to 40% of produced food globally. The technology is applied at supplier facilities and complemented by acquisitions like ImpactVision for hyperspectral imaging to assess produce freshness. On August 18, 2021, Apeel raised $250 million in its Series E funding round led by Temasek Holdings, with participation from Andreessen Horowitz, GIC, Mirae Asset Global Investments, Viking Global Investors, Disruptive, and others including Katy Perry, achieving a post-money valuation of $2 billion. This brought total funding to over $635 million, following a $250 million Series D in May 2020 led by GIC that pushed valuation past $1 billion. Funds were earmarked to expand supply networks with suppliers and retailers beyond 30 across eight countries, adding 10 more by end-2021 in U.S., Canada, Mexico, South America, and southern Europe, partnering with citrus distributor AM Fresh. Apeel also plans further acquisitions to enhance data capabilities for produce quality insights, 'Best If Used By' labeling, and nutritional content. The round supports branding efforts like Apeel-labeled produce and scaling operations amid pandemic-induced supply chain challenges.
Oct 2020Undisclosed stageTemasek; Astanor Ventures; International Finance Corporation; Bild Alternative Investments Corporation$30M-Apeel Sciences is a Santa Barbara-based agritech company founded in 2012 that develops plant-derived edible coatings to extend the shelf life of fresh produce and reduce food waste. The technology extracts molecules from organic agricultural byproducts such as grape skins and banana peels to create undetectable protective barriers on fruits and vegetables. On October 27, 2020, Apeel announced $30 million in funding from the International Finance Corporation, Temasek Holdings, and Astanor Ventures to support international expansion and help smallholder farmers in emerging markets reduce food loss and access higher-value markets, including the U.S. and Germany. This round brought Apeel's cumulative funding to approximately $390 million. The company had previously raised a $250 million Series E round in May 2020 at a valuation exceeding $1 billion. By the time of this October 2020 round, Apeel's technology was available nationwide in the United States and Germany, achieving a 50% reduction in food waste on U.S. and EU retail shelves while also extending shelf life in home environments where food loss rates are three times higher than at retail. The company was expanding applications across multiple produce categories including avocados, lemons, limes, organic apples, mandarins, oranges, and others, with work underway on high-perishability items like strawberries and raspberries.
May 2020Series DGIC (lead); Tao Capital Partners; Oprah Winfrey; Katy Perry; Upfront Ventures; Viking Global Investors; Rock Creek Capital$250M$1BApeel Sciences, a Santa Barbara-based food technology company founded in 2012, develops plant-derived coatings that extend the shelf life of fresh produce to reduce food waste across the supply chain from growers to retailers and consumers. The company originated from research supported by the Bill & Melinda Gates Foundation to address post-harvest losses in developing countries without refrigeration. Its technology applies edible barriers to fruits and vegetables, slowing oxidation and water loss to keep produce fresh longer. On May 26, 2020, Apeel Sciences raised $250 million in a Series D funding round led by Singapore's GIC, achieving unicorn status with a valuation reported as north of $1 billion, over a billion dollars, or more than $1 billion. Participants included existing investors Viking Global Investors, Upfront Ventures, Tao Capital Partners, and Rock Creek Capital (or Rock Creek Group), plus celebrity investors Oprah Winfrey and Katy Perry as minority, non-participatory backers. This followed a $70 million Series C in 2018, bringing total funding to $360 million at that point. The capital aimed to scale operations globally, enhance technology, and expand market reach amid supply chain pressures like COVID-19. Apeel reported commercial traction with US retailers seeing 50% reduction in shrink and 5-10% growth in dollar sales on average. The company was on track to save 20 million pieces of fruit from retail waste that year, targeting the US's 40 million tons of annual food waste costing $161 billion. Later rounds included a $250 million Series E in August 2021 at $2 billion valuation led by Temasek and a $30 million venture round in October 2020.
Jul 2018Series CViking Global Investors (lead); Andreessen Horowitz; S2G Investments; Upfront Ventures$70M-Apeel Sciences, founded in 2012 by James Rogers at UC Santa Barbara, develops plant-derived coatings applied to fruits and vegetables to extend shelf life by preserving humidity and regulating oxygen, reducing food waste and improving supply chain efficiency, particularly in regions lacking cold chain infrastructure. The company achieved commercialization milestones in June 2018 by introducing Apeel-coated avocados at Costco and Harps Food Stores in the U.S. In August 2018, Apeel Sciences raised $70 million in a Series C round led by Viking Global Investors, with participation from Andreessen Horowitz, S2G Ventures (also referred to as S2G Investments), Upfront Ventures, and others including DBL Partners, Powerplant Ventures, and foundations like Bill & Melinda Gates and Rockefeller. The funding aimed to support R&D enhancement, market expansion, and partnerships to commercialize the technology globally. James Rogers highlighted the need for partners aligned with the long-term vision for Apeel produce. Apeel was recognized as a 2018 CNBC Disruptor 50, Friend of Champions 12.3, and winner of a 2018 AgFunder Innovation Award for its technology. The company continued raising capital post-2018, including a $33 million Series B in 2016 co-led by Andreessen Horowitz’s Bio Fund and DBL Partners, a $250 million Series D in 2020 led by GIC valuing it over $1 billion, and a $250 million Series E in 2021 led by Temasek at a $2 billion valuation, bringing total funding over $635 million by then. Viking lists Apeel as a 2018 investment in its portfolio.
Dec 2016Series BDBL Partners; Tao Capital Partners; Entrada Ventures; Ling Wong; Ruttenberg Gordon Investments; Andreessen Horowitz; GroundForce Capital; S2G Investments; Upfront Ventures$33M-Apeel Sciences raised $33 million in its Series B funding round in December 2016, led by Andreessen Horowitz and DBL Partners, with participation from GroundForce Capital, Jason Spievak, Ling Wong, Ruttenberg Gordon Investments, S2G Investments, Tao Capital Partners, and Upfront Ventures. The funding was intended to expand product offerings and scale operations for the company's plant-derived technology that extends the shelf life of fresh produce by slowing water loss and oxidation, while maintaining gas exchange for proper ripening. Founded in 2012 from a University of California venture competition, Apeel Sciences had previously secured a $100k grant from the Bill & Melinda Gates Foundation, a $1.25 million seed round in January 2014, and a $6 million Series A in July 2015 led by Upfront Ventures. The Series A supported manufacturing scale-up, FDA approvals, and international demonstrations. The Series B built on this to target food waste reduction, addressing issues like the 40% of U.S. food wasted annually, costing over $218 billion. Apeel's edible coatings are 100% natural, decomposing like food, and positioned as a sustainable alternative to wax-based solutions. Later developments include a $250 million Series E in August 2021 at over $2 billion valuation, led by Temasek with Andreessen Horowitz participating, bringing total funding to over $635-717 million, and an acquisition of ImpactVision in May 2021 for enhanced produce quality assessment.
Jun 2014Series AXandex Investments LLP; Entrada Ventures; Engel Ventures; Upfront Ventures; Tech Coast Angels$6M-Apeel Sciences raised $5.8 million in its Series A funding round in June 2014 to develop and commercialize plant-derived shelf life extension technology for fresh produce. The investors matched the query: Engel Ventures, Jason Spievak, Tech Coast Angels, Upfront Ventures, and Xandex Investments LLP. The Goleta-based company, founded in 2012, creates solutions to reduce food waste by preserving the quality and extending the shelf life of fruits and vegetables.
Dec 2013SeedEntrada Ventures; Rhapsody Venture Partners; John Greathouse; Engel Ventures$1M--

Who has invested in Apeel Sciences?

23 investors have backed Apeel Sciences across its funding rounds, including Upfront Ventures, Entrada Ventures, Andreessen Horowitz, Temasek, S2G Investments and Viking Global Investors.

Lead investors include Temasek, GIC and Viking Global Investors.


Apeel Sciences Investors

Investors in Apeel Sciences by funding rounds participated
InvestorHQRoundsRoleFirst check
Upfront VenturesUnited StatesLos Angeles, CA4ParticipantJun 2014
Entrada VenturesUnited StatesSanta Barbara, CA3ParticipantDec 2013
TemasekSingaporeSingapore2LeadOct 2020
Tao Capital PartnersUnited StatesSan Francisco, CA2ParticipantDec 2016
Engel VenturesUnited StatesSanta Barbara, CA2ParticipantDec 2013
Andreessen HorowitzUnited StatesSan Francisco, CA2ParticipantDec 2016
S2G InvestmentsUnited StatesChicago, IL2ParticipantDec 2016
Viking Global InvestorsUnited StatesStamford, CT2LeadJul 2018
DBL PartnersUnited StatesSan Francisco, CA1ParticipantDec 2016
Xandex Investments LLPUnited StatesSan Francisco, CA1ParticipantJun 2014
Oprah WinfreyUnited StatesLos Angeles, CA1ParticipantMay 2020
Astanor VenturesBelgiumLuxembourg1ParticipantOct 2020
Rhapsody Venture PartnersUnited StatesUnited States1ParticipantDec 2013

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Acquisitions by Apeel Sciences

Apeel Sciences has acquired 1 company to date.

Last acquisition by Apeel Sciences was on May 11th 2021. Apeel Sciences acquired ImpactVision for undisclosed valuation.


Latest Acquisitions by Apeel Sciences

ImpactVision
Description
ImpactVision is a San Francisco-headquartered food technology company founded in 2015, specializing in machine learning and hyperspectral sensors for quality assessment. Its platform detects freshness, ripeness, and defects in fruits, meats, and produce for retailers and packers worldwide.
HQ CountryUnited States
HQ City
San Francisco, CA
Deal Date11 May 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Apeel Sciences Competitors

Apeel Sciences competitors include listed companies like Olam Group and CJ CheilJedang, and private ones like Bowery Farming, China ZhongDi Dairy, Fruitist and Halter.

Public and private companies comparable to Apeel Sciences
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Bowery FarmingUnited StatesNew York City, NYPrivate--$2.3B-
China ZhongDi DairyChinaBeijingPrivate$1.3B$295M$1.9B1.5x
Olam GroupSingaporeSingaporePublicly listed$23B$1.6B$3B0.5x
FruitistUnited StatesLos Angeles, CAPrivate--$1B-
HalterNew ZealandAucklandPrivate$89M-$2B22.4x
CJ CheilJedangSouth KoreaSouth KoreaPublicly listed$20B$1.6B$2B0.6x

Apeel Sciences Public Comps

Apeel Sciences is still privately-owned, but its public comps include CJ CheilJedang, Cisarua Mountain Dairy, Biomar Group, UIE, Universal Robina, Midera Food Processing, Savola Group, BF Group, Ezaki Glico Co and Monde Nissin.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CJ CheilJedang$20B$1.6B0.7x0.6x8.5x6.6x
Cisarua Mountain Dairy$605M$146M3.2x2.8x13.2x12.3x
Biomar Group$2.5B$218M1.0x0.9x11.2x9.7x
UIE$587M$328M3.7x-6.7x-
Universal Robina$2.7B$328M0.8x0.8x6.7x5.9x
Midera Food Processing$853M$89M2.6x2.5x25.3x14.0x
Savola Group$7B$671M0.5x0.5x5.4x5.7x
BF Group$1.9B$124M1.4x1.3x21.3x19.5x

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Common questions about Apeel Sciences

When was Apeel Sciences founded?Apeel Sciences was founded in 2012.
Where is Apeel Sciences headquartered?Apeel Sciences is headquartered in Santa Barbara, CA, United States.
Is Apeel Sciences publicly listed?No, Apeel Sciences is a private, VC-backed company.
What is Apeel Sciences' valuation?Apeel Sciences was last valued at $2B in its Series E in August 2021.
How much funding has Apeel Sciences raised?Apeel Sciences has raised $640M across 7 funding rounds.
What was Apeel Sciences' last funding round?Apeel Sciences' last funding round was a $250M Series E in August 2021, led by Temasek.
Who are Apeel Sciences' investors?Apeel Sciences' investors include Upfront Ventures, Entrada Ventures, Temasek, Tao Capital Partners, Engel Ventures, Andreessen Horowitz, S2G Investments, Viking Global Investors, DBL Partners, Xandex Investments LLP and 13 others.
Which companies are comparable to Apeel Sciences?Companies comparable to Apeel Sciences include Bowery Farming, China ZhongDi Dairy, Olam Group, Fruitist, Halter and CJ CheilJedang.
How many companies has Apeel Sciences acquired?Apeel Sciences has acquired 1 company, including ImpactVision.

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