YoLa Fresh: Youssef Mamou shares how to get funded in 2024

Investment Climate Podcast: Fundraising Playbooks From Food Tech CEOs and VCs

In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and Leading VCs.

Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies.

Episode 10: YoLa Fresh: Youssef Mamou shares how to get funded in 2024

In this episode, Alex talks to Youssef Mamou, Founder and co-CEO of YoLa Fresh who are focusing on improving the life of smallholder farmers and traditional retailers, reducing the food wastage by building an efficient distribution sourcing network, and technology. Youssef Mamou's discussion reveals a deep understanding of both the challenges and strategies involved in scaling Yola Fresh and illustrating the importance of networking and building relationships with potential investors even before actively fundraising.

Key Facts YoLa Fresh:

Goal: To be Africa's largest fresh produce supply chain company that is solving one of the toughest problems in the world with technology.
Recently raised $7 million in a pre-Series A round

Alex’ Top Findings:

Preparation Before Fundraising. Conduct thorough research and ensure your business model is validated before seeking investment. This preparation can significantly enhance your credibility with investors.
Initial Interactions. Meeting investors informally, such as during panel discussions, can lead to productive conversations and potential partnerships. This casual engagement often helps in establishing a rapport before formal fundraising efforts begin.
Choosing the Right Investors. Finding investors who align with your vision and business model is crucial. Youssef’s experience with VC funds and his ability to discuss the business in detail helped in attracting investors who were a good fit for Yola Fresh.
Building Trust and Credibility. Establishing credibility with banks and investors is crucial. Demonstrating that you can manage operations and build trust can lead to better financing opportunities.
Learning from Global Peers. Youssef emphasizes the value of learning from other entrepreneurs and startups globally. His visit to India and interactions with founders there provided valuable insights and inspiration for scaling Yola Fresh.
Scaling and Investment. Investors are keen on seeing proof that a business can operate effectively and scale. A proven business model with strong unit economics and growth metrics is key to attracting investors. Once you’ve demonstrated consistent growth and profitability, securing funding becomes more feasible. Initially, investors might question whether you can reliably secure both demand and supply. Demonstrating your ability to handle these factors through hands-on experience and successful operations can address this concern.
Managing Expectations. Fundraising can be a lengthy process, and managing expectations is key. Youssef’s approach involved being transparent about the business’s progress and addressing any concerns or objections from investors proactively.