YoLa Fresh, a Moroccan agritech startup building a sustainable fresh food supply network, has secured a $7 million pre-Series A funding round.
The round was led by Al Mada Ventures with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO.
YoLa Fresh founded by Larbi Alaoui Belrhiti and Youssef Mamou connects farmers directly with retailers and food service companies. Utilizing technology, the company tracks produce from farm to retail, ensuring transparency and minimizing waste. This process translates into higher farmer and retailer incomes, reduced food spoilage, and fresher, more affordable options for consumers.
“We have achieved remarkable traction and demonstrated product-market fit in less than 1 year, reinforcing the effectiveness of our innovative business model, which this funding round recognizes and supports,” said Youssef Mamou, co-CEO of YoLa Fresh. “With this funding, we’ll expand our logistics network, bolster our technology, and empower more farmers to deliver high-quality produce directly to consumers,” said Larbi Alaoui Belrhiti, co-CEO of YoLa Fresh.
“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,” added Omar Laalej, Managing Director at Al Mada Ventures.
Tarek Assaad, Managing Partner at Algebra Ventures, said: “We are excited to back Youssef and Larbi, both world-class entrepreneurs who have the skill and passion needed to tackle this large and untapped market opportunity in Morocco. YoLa’s combination of technology and operational capabilities will enable it to create significant efficiencies across the entire farm-to-retail supply chain.
“The agritech sector is a major contributor to economic growth and employment in our region and stands to gain significantly from tech solutions. YoLa Fresh is uniquely positioned to become a leader in that transformation in Morocco and beyond. As a relative newcomer to the Moroccan VC space, we are excited about the upside potential of the market and look forward to continuing to support Moroccan tech startups.”
