Moroccan agri-tech startup YoLa Fresh, which is building a transparent and sustainable fresh food supply network, has secured a US$7 million pre-Series A funding round to help it expand. Founded by Larbi Alaoui Belrhiti and Youssef Mamou, YoLa Fresh has developed a platform that connects farmers directly with retailers and food service companies. The startup’s US$7 million pre-Series A funding round was led by Al Mada Ventures, with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank. YoLa Fresh aims to expand beyond Morocco to become a leading player in Africa’s agri-tech space, tackling food security challenges and fostering economic growth across the continent. “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 recognises and supports,” said Youssef Mamou, co-CEO of YoLa Fresh.

Source: The North Africa Journal June 03, 2024 09:30 UTC