Al Mada Ventures’ Post

Morocco’s YoLa Fresh, an agritech startup that connects smallholder farmers with fruit and vegetable retailers, has raised $7 million in pre-Series A funding. “The Casablanca-based agritech startup works with over 1,000 retailers across the North African country and records up to $1 million in monthly gross merchandise volume (GMV). “YoLa Fresh currently moves over 1,200 tonnes monthly to customers ranging from fruit and vegetable sellers to FMCG mom-and-pop shops. The agritech claims to register a customer retention rate of 85% while averaging four transactions weekly per retailer, indicating strong customer loyalty that will help the company hit a positive contribution margin by the end of 2024 or Q1 2025.” Via TechCrunch. https://lnkd.in/d6A39z3Y #funding #agtech #agriculture #supplychain #trade #commerce #africa Youssef Mamou, Larbi Alaoui Belrhiti

Very excited to support Larbi Alaoui Belrhiti and Youssef Mamou along with the rest of the YoLa Fresh team in building the next big thing in Morocco and beyond! 🚀 🚀 Yola Fresh is transforming the agricultural supply chain by sourcing produce directly from smallholder farmers whilst building a robust, tech-driven supply chain. This approach reallocates margins to the key players—farmers and retailers—creating a more efficient value chain. The potential for growth in Africa’s agricultural sector is immense. According to FAO, the continent holds approximately 60% of the world’s uncultivated arable land. Agriculture contributes 35% to Africa’s GDP and employs more people than any other sector. Despite this, Africa only contributes 10% to the world’s agricultural output and spends $78B annually (85% of its food consumption) on imports. Challenges such as limited market access, insufficient credit, and low digitization impede land and labor productivity. Additionally, the agricultural supply chain is plagued by inefficiencies, including multiple intermediaries and significant resource wastage. Technology can address these issues by driving substantial value within Africa’s agricultural sector. However, agtech remains an underserved market with regards to venture capital funding. Looking forward to seeing and supporting more innovative technologies in this space! Algebra Ventures #Morocco #Agtech #VC

YoLa Fresh, a GrubMarket Inc. for Morocco, digs up $7M to connect farmers with food sellers The fresh produce supply chain in Africa faces numerous challenges, including environmental issues, logistics, food waste, and poor demand-supply synchronization. YoLa Fresh, a Moroccan agtech startup, aims to address these problems by connecting smallholder farmers directly with retailers, eliminating intermediaries. Launched in early 2023 by Youssef Mamou and Larbi Alaoui Belrhiti, YoLa Fresh now works with over 1,000 retailers in Morocco, achieving up to $1 million in monthly gross merchandise volume (GMV). YoLa Fresh has secured $7 million in pre-Series A funding, reflecting significant growth and investor confidence. The founders bring extensive experience to the startup: Alaoui previously led Jumia Morocco and founded Avito, while Mamou managed Uber’s Careem and directed 212 Founders, a Moroccan incubator and VC. YoLa Fresh addresses the fragmented supply chain by providing better prices for retailers and higher profits for farmers, reducing waste from 25-40% to around 6-7%. The startup uses data to offer visibility into harvests and access to financing. Their service allows farmers to place orders by midnight for next-day delivery, ensuring quality produce at competitive prices. Currently moving over 1,200 tonnes of produce monthly, YoLa Fresh boasts an 85% customer retention rate. The company aims to reach $40-50 million in annualized revenue by 2026 and plans to expand beyond Morocco. The recent funding round, led by Al Mada Ventures and Algebra Ventures, highlights the startup's potential to transform the agricultural sector in Morocco and across Africa. Stay ahead with the latest in food delivery news from the weekly Boolanga Business Bites newsletter, brought to you by Boolanga Business. Sign up for our LinkedIn newsletter now to receive weekly updates directly to your inbox every Monday.

MOROCCAN Agritech STARTUP YoLa Fresh SECURES $7M TO REVOLUTIONIZE FRESH PRODUCE SUPPLY CHAIN 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. YoLa Fresh’s vision extends beyond Morocco. The company aspires to tackle food security challenges and foster economic growth across Africa. To read the complete article click on this link below 👇 https://lnkd.in/dkDB5Kuz #agritech #agritechnology

YoLa Fresh, a Moroccan agri-tech startup building a transparent and sustainable fresh food supply network, has secured a US$7 million pre-Series A funding round. This investment will fuel their expansion across Africa, tackling food security challenges and fostering economic growth. Founded by Larbi Alaoui Belrhiti and Youssef Mamou, YoLa Fresh connects farmers directly with retailers and food service companies. Their technology tracks produce from farm to retail, ensuring transparency and minimizing waste. This innovative model has garnered significant traction within its first year, attracting leading investors like Al Mada Ventures, Algebra Ventures, and E3 Capital . "This funding validates the effectiveness of our business model," said Youssef Mamou, co-CEO of YoLa Fresh. "We'll leverage the investment to expand our logistics network, enhance our technology, and empower more farmers to deliver fresh produce directly to consumers." YoLa Fresh's growth plans extend beyond Morocco, aiming to become a prominent player in Africa's agri-tech space. "We believe YoLa Fresh is well-positioned to add value and positively impact the entire agricultural ecosystem," said Omar Laalej of Al Mada Ventures. Their focus on digital supply chain technologies positions them to revolutionize Africa's food security landscape. #Africa #AgriTech #FoodSecurity #Investment #YoLaFresh #SustainableAgriculture #Logistics #Technology #EmpoweringFarmers #FreshProduce #AlMadaVentures To read more: https://zurl.co/xzp0

Superplum, an agritech startup that offers premium fresh fruits, has secured $15 million from investors to fuel its business expansion. The company announced the successful completion of its Series A funding round, raising a total of $15 million. Erik Ragatz, the incoming chairman of the company and former Partner turned Senior Advisor at the renowned global private equity firm Hellman & Friedman, took the lead in steering the funding round. He becomes part of a strong lineup of investors that includes Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra. Established in 2019 by Shobhit Gupta, Superplum will utilize the raised capital to develop infrastructure and revolutionize the supply chains for produce in India. Superplum has established a direct-from-farm supply chain for produce, employing proprietary technology and cold-chain infrastructure to significantly enhance the process of cultivation and distribution to the market. It offers a variety of fruits including mangoes, litchis, apples, grapes, cherries, and plums, with additional products continually being added to its expanding inventory. Read full story here: https://lnkd.in/diysd-ve #funding #startups #growth #expansion #freshfruits #fruits #supplychain #agritech Ashu Agrawal

Across Africa and emerging markets, the fresh produce supply chain faces a multitude of #challenges. From environmental issues and labor problems to logistical hurdles, food waste, and poor demand-supply synchronization, these problems impact farmers and retailers alike. Farmers struggle to find buyers for their produce, while retailers grapple with ineffective negotiation tactics. YoLa Fresh, a Casablanca-based agritech startup established in early 2023. Inspired by successful models like Frubana, Meicai, and Waycool, YoLa Fresh directly connects smallholder #farmers with traditional fruit and vegetable retailers, bypassing intermediaries. Early Success and Funding: In less than a year, YoLa Fresh has experienced impressive growth. They work with over 1,000 retailers across Morocco, boasting a monthly gross merchandise volume (GMV) of $1 million. This success has attracted $7 million in pre-Series A funding, a significant investment for any African startup, especially one from Morocco, where the total VC deal value was just $93 million last year. Founders with Strong Backgrounds: YoLa Fresh's co-founders, Youssef Mamou and Larbi Alaoui Belrhiti, bring a wealth of #experience to the table. Alaoui, a seasoned tech entrepreneur, previously founded and sold Avito, an online classifieds site, and served as CEO of Jumia Morocco. Mamou, with experience managing Uber's Careem and leading an early-stage incubator/VC firm (212 Founders), brings valuable knowledge to the startup. Addressing a Pressing Need: The founders identified the fragmented nature of Morocco's agricultural supply chain as a major obstacle. With 80% of agriculture coming from smallholder farmers and 90-95% of distribution through traditional retailers, #numerous intermediaries create inefficiencies. YoLa Fresh aims to streamline this process. Focus on Morocco, Future Expansion Planned: Despite its size, Morocco's agricultural sector is robust, contributing significantly to the country's GDP. YoLa Fresh initially focuses on Morocco but has plans to expand into other African markets where similar issues exist. Benefits for All Stakeholders: YoLa Fresh's platform tracks produce from farm to retail, eliminating intermediaries. This #translates to lower prices for retailers, higher profits for farmers, and reduced food waste. Additionally, the company provides data and insights to both parties, improving transparency and access to financing. Impressive Customer Traction: YoLa Fresh delivers over 1,200 tonnes of produce monthly to a diverse clientele, from fruit and vegetable sellers to mom-and-pop shops. www.tycoonstory.com #AgritechInnovation #AfricaAgriTech #YoLaFresh #SupplyChainSolutions #FreshProduce #SustainableAgriculture #FarmToTable #FoodWasteReduction #TechForGood #EmergingMarkets #FarmersSupport #RetailTech #DigitalTransformation #AgriTechStartups YoLa Fresh

- 🌊 India attracts major aquaculture startups, with eFishery entering the market and Captain Fresh expanding globally. - 💼 Captain Fresh has acquired three companies in six months, aiming to become a top seafood distributor worldwide. - 🚀 Focusing on B2B distribution, Captain Fresh plans further acquisitions and targets an IPO while exploring profitability strategies. - Want full insights? Subscribe to Tech in Asia to read the entire article.

We're supporting the streamlining of fresh produce supply chains in Africa through an #FMOVenturesProgram equity investment in YoLa Fresh: https://lnkd.in/d6A39z3Y? An agritech startup based in Casablanca, #Morocco YoLa Fresh's tech-enabled supply chain platform that's connecting smallholder farmers directly with over 1,000 traditional fruit and vegetable retailers. YoLa targets poor demand-supply coordination--which leads to worse sales for farmers and ineffective negotiation for retailers--and aims to empower the farmers which represent 80% of Moroccan agriculture to minimize #foodwaste and receive better profits. To that end, we've provided YoLa Fresh with a USD 1 mln equity investment as part of the USD 7 mln pre-Series A funding they've received. We're confident in their vision to revolutionize the fresh food supply across Morocco and look forward to seeing how they expand to reach more communities! Read their exclusive feature in TechCrunch here: https://lnkd.in/d6A39z3Y?

On the supply chain side, Aftermarket tackles inefficiencies by digitizing procurement, storage, and customer management. This digital transformation reduces food loss, a major challenge in Sub-Saharan Africa where nearly 40% of food spoils between production and consumption. #AfterMarket #AbidjanStartups #Fuzé #Côted’IvoireStartups https://lnkd.in/dEY4qK73