In a boost to Africa’s agri-tech landscape, Moroccan startup YoLa Fresh (site) has successfully raised USD 7 million in a pre-Series A funding round. The injection of capital is poised to accelerate the company’s ambitious plans to revolutionize the fresh food supply network across the continent.
Innovative solutions for the agri-tech sector
Founded by Larbi Alaoui Belrhiti and Youssef Mamou, YoLa Fresh is pioneering a platform that directly connects farmers with retailers and food service companies. This innovative approach aims to create value for all stakeholders within the supply chain, ensuring that the benefits are felt from the ground up. By leveraging advanced technologies like machine learning and artificial intelligence, YoLa Fresh is developing predictive algorithms that optimize demand and supply dynamics, pricing, and other variables within the highly perishable produce market.
Funding and a vision for expansion
The substantial USD 7 million funding round was spearheaded by Al Mada Ventures, with notable participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank. This investment underscores the confidence these prominent investors have in YoLa Fresh’s business model and growth potential.
YoLa Fresh’s co-CEO, Youssef Mamou, highlighted the company’s rapid progress and market validation within its first year of operation. “We have achieved remarkable traction and demonstrated product-market fit in less than one year, reinforcing the effectiveness of our innovative business model, which this funding round recognizes and supports,” Mamou stated.
Co-CEO Larbi Alaoui Belrhiti emphasized the strategic deployment of the new funds. “With this funding, we’ll expand our logistics network, bolster our technology, and empower more farmers to deliver high-quality produce directly to consumers,” Belrhiti explained.
Strategic impact and future prospects
YoLa Fresh’s mission extends beyond mere commercial success; it aims to address broader challenges of food security and economic growth across Africa. As the agricultural sector increasingly adopts digital technologies, YoLa Fresh is well-positioned to offer substantial value to its customers while positively impacting the entire ecosystem.
Omar Laalej, managing director at Al Mada Ventures, expressed his support for YoLa Fresh’s vision, saying, “As the agricultural sector continues its transition to digital supply chain technologies, we believe that Yola Fresh is well placed to offer real added value to its customers, while having a positive impact on the entire ecosystem. We are delighted to support the company’s commercialisation strategy and expansion.”
The successful pre-Series A funding round marks a pivotal moment for YoLa Fresh, setting the stage for its expansion beyond Morocco. With a robust technological foundation and strong backing from leading investors, YoLa Fresh is on track to become a significant force in Africa’s agri-tech landscape, driving innovation, efficiency, and sustainability in the fresh food supply chain.
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