Moroccan agritech start-up YoLa Fresh has secured $7 million in new funding to support its expansion plans.

The pre-Series A investment round was led by Al Mada Ventures and participated by Algebra Ventures, E3 Capital, Janggo Capital and FMO, a Dutch entrepreneurial development bank, according to a statement.

YoLa intends to use the new capital to expand beyond Morocco as it seeks to tackle food security challenges and foster economic growth across Africa.

The platform seeks to connect farmers directly with retailers and food service companies, cutting out middlemen in the supply chain. The company tracks the products from farm to retail, ensuring transparency, minimising waste and translating into higher incomes for farmers and retailers.

“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.

(Writing by Cleofe Maceda; editing by Seban Scaria) 
Seban.scaria@lseg.com