- YoLa Fresh, a Moroccan agritech startup, secures $7 million in funding.
- The company connects smallholder farmers directly with retailers, streamlining the fresh produce supply chain.
- The funding will be used to expand operations, improve logistics, and enhance the digital platform.
- YoLa Fresh aims to address challenges in Morocco’s agricultural sector and potentially expand to other African markets.
YoLa Fresh, a Moroccan agritech startup founded in early 2023, has secured $7 million in pre-Series A funding to revolutionise the country’s fresh produce supply chain.
The company aims to connect smallholder farmers directly with traditional retailers, eliminating unnecessary middlemen and inefficiencies. This approach benefits farmers, who receive fairer prices for their produce, and retailers, who access fresher, higher-quality goods.
The startup has partnered with over 1,000 retailers and achieved a monthly gross merchandise volume (GMV) of $1 million. Inspired by similar successful models in other developing countries, YoLa Fresh plans to leverage the $7 million investment to further expand its reach and impact.
About The Funding
The funding will be used to address several key areas. YoLa Fresh aims to develop a robust logistics network to ensure efficient and timely delivery of produce.
Additionally, the company plans to enhance its digital platform, streamlining communication and transactions between farmers and retailers. Finally, YoLa Fresh will invest in expanding its team to support its ambitious growth plans.
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YoLa Fresh’s vision extends beyond Morocco. The company aspires to tackle food security challenges and foster economic growth across Africa.
The success of this funding round positions YoLa Fresh as a major player in the continent’s burgeoning agritech sector. By addressing critical issues in the agricultural supply chain, YoLa Fresh has the potential to significantly impact the lives of farmers, retailers, and consumers throughout Africa.
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