iProcure is a technology company.
iProcure has raised $15.0M across 3 funding rounds.
iProcure has raised $15.0M in total across 3 funding rounds.
iProcure has raised $15.0M in total across 3 funding rounds.
iProcure's investors include Novastar Ventures.
iProcure is a Nairobi-based agritech startup founded in 2013 that builds a proprietary technology platform to optimize the agricultural input supply chain in rural Africa, primarily connecting manufacturers of seeds, fertilizers, and pesticides directly to local agro-dealers and smallholder farmers.[1][2][5] It serves smallholder farmers (many women with average incomes around $5.50/day), agro-dealers (over 1,500 networked), and input manufacturers (more than 25 integrated), solving chronic issues like supply chain inefficiencies, high costs, stockouts, counterfeit products, and lack of real-time data that reduce farmer productivity and incomes.[1][3][7] By enabling bulk purchases, next-day deliveries from 13 distribution centers, and data-driven inventory management, iProcure delivers quality inputs at up to 25% below market prices, boosting crop yields, food security, and economic growth while creating opportunities for thousands of agri-retailers.[2][3][7] The company shows strong growth momentum, with revenue increases, expansion into Uganda, Tanzania, and Nigeria, and investments from funds like Novastar Ventures and British International Investment.[7][8]
iProcure was founded in 2013 in Nairobi, Kenya, as a pioneer in digital agriculture amid inefficiencies in Africa's traditional agri-input supply chains, where multiple middlemen caused opacity, high costs, and unreliable access for rural farmers.[1][5] While specific founder names are not detailed in available sources, the company emerged from recognizing the need to digitize manual processes, providing farmers—especially smallholders—with quality seeds, fertilizers, and pesticides without long travels or quality risks.[1][3] Early traction came from building a tech-enabled network of retailers and depots, partnering with manufacturers for bulk procurement, and launching a retailer ERP system for real-time ordering via mobile/web apps, call centers, or sales agents.[2][3] Pivotal moments include scaling to 1,500 agro-dealers, 13 distribution centers across Kenya's agricultural belt, and investments supporting geographic expansion, disrupting a predominantly manual industry with just-in-time logistics and data visibility.[3][7]
iProcure rides the agritech wave in Africa, leveraging mobile tech and data analytics to digitize fragmented rural supply chains amid rising smallholder farmer demands (who produce 70-80% of the continent's food) and climate-driven volatility like erratic rains.[1][2][7] Timing is ideal with smartphone penetration in rural areas, post-2013 digital agriculture boom in Kenya, and global focus on food security SDGs, amplified by investments scaling operations across Kenya (70%), Uganda (10%), Tanzania (20%), and Nigeria.[7] Market forces favoring it include reducing input costs for 60% women farmers, creating 5,000 agri-retailer jobs, and providing manufacturers with granular data in opaque markets, influencing the ecosystem by pioneering efficient B2B2C models that boost productivity and incomes.[3][7][8]
iProcure is poised for deeper African expansion, potentially dominating rural agri-input distribution by integrating AI for predictive analytics and financing tools to lock in loyalty among millions of smallholders. Trends like climate-resilient farming, e-commerce in ag, and impact investing will propel it, evolving its influence from Kenya disruptor to pan-African platform enhancer of food systems and rural economies—ultimating revolutionizing supply chains as it began in 2013.[1][7]
iProcure has raised $15.0M across 3 funding rounds. Most recently, it raised $9.0M Series B in August 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2022 | $9.0M Series B | Novastar Ventures | |
| May 1, 2019 | $5.0M Venture Round | Novastar Ventures | |
| Sep 1, 2017 | $970K Series B | Novastar Ventures |