YoLa Fresh, a Moroccan agri-tech startup, has raised US$7 million in a pre-Series A funding round to support its growth.
YoLa Fresh is creating a transparent and sustainable fresh food supply network.
Al Mada Ventures led the startup’s US$7 million pre-Series A funding round, in which Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank, also participated.
YoLa Fresh, which was founded by Larbi Alaoui Belrhiti and Youssef Mamou, has created a network that links farmers with food service providers and retailers directly. The company follows produce from farm to retail using state-of-the-art technology, ensuring transparency and reducing waste.YoLa Fresh wants to go beyond Morocco and establish itself as a major force in the agri-tech sector of Africa, addressing issues related to food security and promoting economic development throughout the continent.
YoLa Fresh co-CEO Youssef Mamou stated, “In less than a year, we have achieved remarkable traction and demonstrated product-market fit, reinforcing the effectiveness of our innovative business model, which this funding round recognizes and supports.”
YoLa Fresh co-CEO Larbi Alaoui Belrhiti noted, “With this funding, we’ll expand our logistics network, bolster our technology, and empower more farmers to deliver high-quality produce directly to consumers.”
“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 commercialization strategy and expansion,” said Omar Laalej, managing director at Al Mada Ventures.
The startup plans to use the funds to grow its business and attract new customers.
Read more on Tech Gist Africa:
Chari, a B2B e-commerce startup in Morocco, has raised $1.5 million
PrestaFreedom, a startup offering home services in Morocco, has secured US$1.1 million in funding
Terraa, a food tech startup based in Morocco, has raised $1.5 million in a pre-seed funding round
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