Morocco-based agritech YoLa Fresh raised $7 million in pre-Series A fundraising from Al Mada Ventures, Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank.
YoLa Fresh, founded in 2023 by Youssef Mamou and Larbi Alaoui Belrhiti, connects farmers directly with stores and food service firms, increasing farmer and retailer revenues, reducing food spoilage, and offering consumers fresher, cheaper options.
It will extend outside Morocco to address food security and boost African economies.
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YoLa Fresh, a Moroccan agritech business establishing a transparent and sustainable fresh food supply network, announced a $7 million pre-Series A fundraising round. Al Mada Ventures brought in Algebra Ventures, E3 Capital, Janngo Capital, and FMO, the Dutch entrepreneurial development bank.
It’s revolutionary platform links farmers to merchants and food service organisations. Transparency and waste reduction are achieved by tracking produce from farm to retail using cutting-edge technology. This breakthrough technique boosts farmer and retailer profits, reduces food waste, and gives consumers fresher, cheaper options.
“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.
Entrepreneurs Larbi Alaoui Belrhiti and Youssef Mamou lead YoLa Fresh, which has scaled throughout the region. Youssef’s leadership at Careem, North Africa’s largest ride-hailing network, and 212Founders, a Moroccan venture capital investor, is invaluable. Larbi’s leadership expertise at Jumia, a leading African e-commerce company, gives YoLa Fresh an unmatched advantage in Africa’s unique market dynamics.
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Globally successful fresh produce marketplace models inspire it. Top-tier VCs have invested in Meicai in China, Frubana in Latin America, and Waycool in India, proving this approach works.
It’s goal goes beyond Morocco. They want to lead Africa’s agritech revolution to improve food security and boost economic growth. This $7 million funding is a major step towards becoming an African unicorn.
About YoLa Fresh
YoLa Fresh aims to transform African fresh fruit. They know that food costs a lot here and that small-scale farmers struggle to make ends meet.
