Kenyan Agritech iProcure Raises USD 10.2 Mn Series B Round

 iProcure, a Kenyan B2B agritech that connects agricultural manufacturers and distributors to local retailers (agro-dealers), through its unique distribution infrastructure that interlinks agricultural supply chains has secured USD 10.2 Mn in series B funding.  

The latest round included USD 1.2 Mn debt and was led by Investisseurs & Partenaires (I&P), and it brings the total funding raised by iProcure, so far, to USD 17.2 Mn. Novastar Ventures, Ceniarth, and British International Investment (BII), also participated in the round.

The agritech provides the agro-dealers with an end-to-end Enterprise Resource Planning (ERP) system that operates from mobile devices, helping them manage their sourcing and distribution. By helping manage stock-outs, the agritech ultimately helps stabilize product prices for the benefit of both the sellers and end-users.