IProcure

About IProcure

Founded in 2013, IProcure is a Nairobi-based agritech company that developed a data-driven platform to optimize the agricultural supply chain in rural Africa. The company was established by co-founders Stefano Carcoforo, Nicole Galletta, Patrick Wanjohi, and Bernard Maingi. Carcoforo, a Kenyan-born systems engineer, brought experience from large development projects, which informed the company's process-oriented approach to solving logistical challenges in unstructured markets.

IProcure's business model centers on connecting agricultural input manufacturers and suppliers directly with local agro-dealers, bypassing multiple layers of intermediaries. This is achieved through a proprietary technology system that provides business intelligence, data-driven stock management, and last-mile distribution. The company operates a network of warehouses and delivery vehicles to ensure timely fulfillment of orders placed by agro-dealers via a mobile-based ERP software and point-of-sale (POS) system. This platform offers agro-dealers inventory management, sales tracking, and data-driven recommendations for stocking, while providing manufacturers with real-time visibility into product sales and inventory levels. Revenue was generated through the direct sale of agricultural inputs—such as seeds, fertilizers, and pesticides—to this network of dealers. The company aimed to reduce input costs for farmers by up to 25% by improving supply chain efficiency.

The company had shown significant growth, expanding its network to over 5,000 agro-dealers in Kenya and Uganda, serving over a million farmers. IProcure raised a total of $17.2 million in funding over several rounds, including a $10.2 million Series B in August 2022, with investors like Investisseurs & Partenaires, Novastar Ventures, and British International Investment. However, the company faced severe financial difficulties and was placed under administration in April 2024 due to unpaid debts. Following this, the founders have been working with the new owner of the company's core technology to restore services.