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25 - 26 June 2024, Landmark Centre, Lagos, Nigeria

Yola Fresh Secures $7 Million to Enhance Farmer-Retailer Connectivity

Yola Fresh, a Moroccan agritech startup, has secured $7 million in pre-Series A funding to expand its platform connecting smallholder farmers directly with retailers. This funding round was led by Al Mada Ventures, with participation from Algebra Ventures, E3 Capital, Janngo Capital, and FMO.

This investment will be used to improve Yola Fresh’s logistics network and technology infrastructure. The goal is to make the supply chain more efficient, reduce post-harvest losses, and ensure that farmers receive fair prices for their produce. At the same time, retailers will benefit from a reliable and consistent supply of fresh produce.

Improving Market Access

Yola Fresh’s platform addresses the inefficiencies in traditional agricultural supply chains by facilitating direct connections between farmers and retailers. This direct link helps farmers get better prices for their produce and ensures that consumers have access to fresh, high-quality products. It also reduces the need for middlemen, which can lead to cost savings for both farmers and retailers.

In urban areas like Casablanca, where the demand for fresh produce is high, Yola Fresh’s platform ensures a steady supply of goods. This consistency helps retailers maintain their inventory levels and meet customer demand more effectively. For farmers, the platform provides a more predictable and stable income, which can lead to economic growth and stability in rural areas.

Technological Enhancements

The funding will also be used to upgrade the technology behind Yola Fresh’s platform. Improved logistics and data-driven solutions will help with better forecasting and inventory management, reducing waste and optimizing operations. These technological advancements will make the platform easier to use and more accessible for both farmers and retailers.

Industry Context

Yola Fresh’s success is part of a larger trend in the agritech sector, where technology is being used to solve long-standing issues in the agricultural supply chain. Other companies, like GROWERS, are also using digital platforms to improve the relationship between farmers and retailers. GROWERS recently launched two mobile apps to streamline transactions and enhance communication between these groups

The success of these platforms highlights the importance of technological innovation in agriculture. By improving market access and streamlining operations, these technologies are helping to create a more efficient and fair agricultural ecosystem.

For more details, visit [Fresh Plaza]

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