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Home Business Kenya’s iProcure Raises Undisclosed Funding from Invested Development to Improve Access to Farming Inputs

Kenya’s iProcure Raises Undisclosed Funding from Invested Development to Improve Access to Farming Inputs

by Sam Wakoba
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1395357_582298648486164_183997038_nEarly 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.
The funding will help iProcure to improve farmers retail operations by improving their inventories, orders, point of sale activities, and client profiles along with geo-located purchasing patterns, real-time agent performance and transaction analysis, and built-in mobile payments. The service aims at helping retailers better predict demand with business intelligence data, improve inventory management, and streamline distribution efficiency.

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.

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