Terraa, a Moroccan foodtech startup, has secured $1.5 million in pre-seed funding from investors led by FoodLabs, along with UM6P Ventures, Outlierz Ventures, Musha Ventures, and DFS Lab. The startup will use the funding to expand its team, enhance its technology infrastructure, and expand to major cities in Morocco.
Terraa’s B2B platform and logistics infrastructure aim to make food supply chains more sustainable and equitable in Africa. The platform enables farmers to earn higher incomes, and retailers to have access to high-quality goods at competitive prices. Terraa purchases directly from farmers and delivers to fruit and vegetable vendors, hotels, and restaurants, creating a transparent and efficient food supply ecosystem that aims to address the operational inefficiencies and lack of technology and data in Africa’s food supply chain.
Terraa’s vision is to create a more sustainable and equitable food supply ecosystem that benefits all stakeholders, including farmers, retailers, and consumers. In many African countries, the food supply chain is riddled with intermediaries, which leads to inflated prices, poor quality of food, and significant waste.
Terraa’s tech-enabled platform and logistics infrastructure aim to address these challenges by creating a transparent and efficient food supply ecosystem. The platform’s direct-to-farmer approach eliminates intermediaries, enabling farmers to earn higher incomes and access stable markets at better prices. Retailers, on the other hand, benefit from competitive prices and a consistent supply of high-quality goods.
The pre-seed funding will help Terraa expand its reach to major cities in Morocco and enhance its technology infrastructure. By building a more efficient and sustainable food supply ecosystem, Terraa aims to make food more affordable and accessible to everyone, while also ensuring secure income for farmers.
The startup’s innovative approach has gained the support of investors who share its mission of leveraging technology to drive quicker and more efficient transactions. The backing of renowned investors like FoodLabs, UM6P Ventures, Outlierz Ventures, Musha Ventures, and DFS Lab is a testament to Terraa’s potential to transform the food supply chain in Africa.