E3 Capital are proud to announce their first investment in Morocco through the E3 Low Carbon Economy Fund I in YoLa Fresh, an AgriTech startup that is addressing the dual challenges of inefficient supply chains and food loss to reduce greenhouse gas emissions in Africa.
YoLa Fresh is building a transparent and sustainable fresh food supply network, and has secured $5 million in pre-Series A funding round, fuelling its expansion across Morocco and beyond. The round was led by Al Mada Ventures with participation from Algebra Ventures, E3 Capital and FMO, the Dutch Entrepreneurial Development Bank. This brings the total raised to $7 million after the pre-Seed round led by Janngo in June 2023.
YoLa's innovative platform connects farmers directly with retailers and food service companies, reducing the need for intermediaries and optimizing the supply chain. Utilizing cutting-edge technology, the company tracks produce from farm to shelf, ensuring transparency and minimizing waste. This translates into higher farmer and retailer incomes, reduced food spoilage, and fresher, more affordable options for consumers.
We are excited to back such a strong team and support their expansion into sub-Saharan Africa.
