YoLa Fresh is one of the EBRD Star Venture beneficiaries from Morocco within the food and security sector. Founded in 2023, the startup is an innovative tech platform that connects small-holder farmers with traditional retailers of fruits and vegetables. The primary goal of YoLa Fresh is to remove intermediaries in the food supply chain, allowing retailers to pay less for produce and producers to gain more profit quickly. The platform is also deeply integrated with data and tech, utilizing machine learning and AI for predictive algorithms in supply and demand.
Star Venture supported YoLa Fresh in its scale and growth by providing financing, mentoring, customized advisory and access to market and clients. YoLa Fresh joined the Star Venture program as a pre-revenue startup in September 2023. Today, the startup generates a revenue of US$2.3+ million.
Over the past year, Star Venture programme has provided significant support to YoLa Fresh. In terms of financing, during a pitching event, the startup caught the attention of a venture capitalist, leading to advanced negotiations and a recently closed deal of US$1,5 million. In terms of expertise, a business diagnosis was conducted by a Cambridge IfM consultant to identify all areas where YoLa Fresh needed expertise and technical assistance. This assessment highlighted the need for the startup to automate its operations and implement the SAP Business One System. YoLa Fresh has been expanding its operations and plans to enhance its efficiency and internal quality controls by digitalizing its workflow, reducing paper consumption, and automating operational processes. In terms of market access, YoLa Fresh received support through business matching trips, with travel expenses covered to meet venture capitalists and clients at major events such as the World AgriTech Innovation Summit 2023, GITEX Dubai 2023, and the upcoming Innovex 2024.
YoLa Fresh is leveraging technology to optimize the agricultural supply chain, benefiting smallholder farmers who previously depended on intermediaries with low margins and unfavorable payment terms, as well as traditional retailers who typically spend countless hours at large wholesale markets to source their produce.
The startup envisions becoming one of Africa’s largest food supply chain platforms, with the goal of improving the lives of smallholder farmers and traditional retailers. By building an efficient distribution and sourcing network powered by technology, the startup aims to reduce food wastage and create a more sustainable food system. This vision aligns with UN Sustainable Development Goals 2 and 12, promoting zero hunger and responsible consumption and production. Through these efforts, the startup aspires to make a lasting positive impact on the agricultural sector and the broader community.