Early stage impact fund manager, Invested Development, has invested an undisclosed amount into Kenya’s Procure, a mobile and web technology platform that provides software to enhance sales and inventory management in rural and peri-urban agriculture markets.Founded in 2012 by Stefano Carcoforo and Nicole Galletta, the platform aims to facilitate and encourage local procurement, in Kenya, by providing a secure and functional platform where businesses and Institutional buyers can connect to and source goods and services from a base of reliable pre-screened vendors.
According to a statement, the investment comes from the BSP Fund, ID’s seed stage equity fund focused on investing in ICT, alternative energy, and agriculture technology solutions for underserved markets. iProcure offers an ICT solution to improve the agriculture supply chain in Kenya, a great match for ID’s focus.
The Village Capital alumni will help farmers access high-quality farming inputs and equipment conveniently and affordably.
In May last year, iProcure brought home a bronze award from GIST in Tanzania.