Tag: iProcure

  • iProcure expands to Tanzania in partnership with FtMA

    iProcure expands to Tanzania in partnership with FtMA

    iProcure, a prominent data-driven African agricultural input supply company, has made the announcement that it will be expanding its operations into Tanzania by partnering with the Farm to Market Alliance (FtMA).

    FtMA is a coalition of governmental and private entities with the mission of boosting the economic well-being of smallholder farmers, thereby enhancing their ability to withstand adverse conditions and concurrently enhancing the commercial viability of the entire value chain.

    This is accomplished through FtMA’s support of a network of last-mile service providers known as Farmer Service Centres (FSCs). 

    These FSCs act as key service hubs that provide access to demand-driven services such as affordable financing, handling and storage solutions, as well as timely market connections. 

    This assists producers in making the transition from having a surplus or the potential for a surplus to commercial farming. Because of the cooperation between iProcure and FtMA, more than 125,000 Tanzanian farmers will have better access to a wider range of supplies and services.

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    Traditional agricultural supply chains in East Africa have been completely transformed as a result of iProcure’s development of its very own distribution infrastructure, which connects large agricultural input suppliers to local agro-dealers directly by means of its unique distribution technology system. iProcure ensures the availability, quality, and delivery of essential agricultural inputs such as fertilisers and seeds while delivering cost savings. 

    This is accomplished by eliminating the multiple levels of middlemen that are present in the traditional agricultural supply chain. 

    In addition, it provides technology-driven insights on supply levels and price. In return, agro dealers are able to supply the products that farmers who rely on them require at the precise moment that the farmers require them.

    In addition to sourcing and delivering supplies to more than one million farmers, iProcure’s software and data management solutions digitise the businesses of agro-dealers and offer priceless data insights into regional agricultural input demand, price sensitivity, and creditworthiness.

    iProcure also provides supply to over one million farmers. With the use of this newfound knowledge, iProcure has expanded its Buy-Now-Pay-Later (BNPL) services to more than 1,500 agro-dealers.

    125,000 farmers in rural Tanzania have access to FtMA’s platform, which enables them to receive last-mile service delivery and structured market access through their network of 295 Farmer Service Centres, which are dispersed throughout six regions. 

    Market access, farm inputs, financing, mechanization, advice services, and insurance are some of the services that are provided by this company.

    iProcure will implement its supply-chain tracking technology and business management software solutions to one hundred Tanzania agro-dealers as part of this collaboration in order to improve both the operational efficiency and supply traceability of the Tanzanian agro-dealers’ businesses. 

    By November 2023, the collaboration anticipates having deployed iProcure solutions to a total of one hundred FtMA Farmer Service Centres.

    iProcure has had its sights set on Tanzania and this partnership with FtMA presents the perfect opportunity to roll out our technology to an established network of agro-dealers. FtMA shares our vision of digitizing agriculture, helping farmers, and improving supply chains, so we are excited to enter this new market alongside them,” said Niraj Varia, CEO of iProcure. 

    FtMA is excited about the partnership with IProcure in Tanzania. At our core, FtMA seeks to bridge the gap between service delivery and market access at the first ajd last mile. Digitalizing the work of our Farmer Service Centers is key to bridging this gap, and we are looking forward to seeing how our FSCs and farmers will benefit from this new partnership,” remarked Mads Lofvall, Managing Director of FtMA. 

     

    About iProcure

    iProcure is the top tech and data-driven agricultural inputs supply firm in Africa. The company streamlines the delivery of essential agricultural supplies to over one million African farmers. 

    By constructing critical distribution infrastructure and distribution technology systems, which allow for the acquisition of items directly from large suppliers, and then supplying these agri-inputs to more than 5,000 local agro-dealers in Kenya and Uganda, we are able to achieve our mission.

    iProcure not only helps farmers and agrodealers save money, but it also guarantees the availability, quality, and delivery of essential inputs like seeds and fertiliser. The order fill rate for iProcure is 94% across the board for all orders submitted by agro-retailers. 

    By guaranteeing that farmers can plant their crops on time and yield more crops while using less land, iProcure is cutting the cost of food production for smallholder commercial farmers and lessening the climatic effect of agriculture in Kenya and Uganda. This is happening as a result of iProcure’s efforts to ensure that farmers can plant their crops on time.

    Farm to Market Alliance: A Brief Introduction

    Farm to Market Alliance (FtMA) has the mission to empower African farmers to boost their yields, incomes, and resilience, as well as to improve the continent’s overall food security, by facilitating the development of sustainable food systems through the strengthening of markets.

    This will be accomplished through the creation of a commercial environment that is inclusive and empowering throughout the food value chains, which will be supported by regulations that are suitable and investments in both hard and soft infrastructures.

    Since 2016, FtMA has been able to successfully involve over 426,000 farmers in Kenya, Rwanda, Tanzania, and Zambia, which has benefited over 1.4 million households. Additionally, FtMA has built a network of over 1,700 Farmer Service Centres (FSCs) that serve as trustworthy bridges to farming communities.

  • iProcure receives $10.2 million in Series B funding

    iProcure receives $10.2 million in Series B funding


    A Kenyan agritech startup, iProcure, has closed a $10.2 million Series B funding round. The lead investor in this round wasiprocure-receives-10-2-million-in-series-b-fun Investisseurs & Partenaires.

    The capital, a mix of debt and equity, will help iProcure expand into Uganda and Tanzania and create a credit offering that lets agro-retailers buy supplies on credit. Other investors in this funding round were Novastar Ventures, British International Investment (BII), and Ceniarth.

     What will the funds be used for?

    iProcure gets rid of the many middlemen in the traditional agricultural supply chain and shows how changes in technology affect prices and levels of supply. This makes sure that fertilizers and seeds, which are important for farming, will be available, of good quality, and delivered at prices lower than those on the market.
    The new CEO of iProcure used to be a partner at Novastar Ventures, which is the main investor in the company. He said of the funding round: “This funding will expand iProcure’s product offering to include credit services and a new POS system for agro-dealers to predict their inventory needs better and reduce shoplifting.” This will help our more than 5,000 partner merchants make more money and better serve the tens of thousands of farmers who depend on each shop.

    How will iProcure change agriculture’s effects on the environment?

    Byland, iProcure is helping to reduce agriculture’s overall effect on the environment and food costs by ensuring that smallholder farmers can plant their crops on time and get higher crop yields while using fewer land supplies. Over a million African farmers are helped by iProcure’s efforts to make it easier to get essential agricultural supplies. This is because the company has grown 23 times in the last five years.

    “iProcure has grown 23X in the five years since Novastar invested,” Abel Boreto said, Associate Investment Director at Novastar Ventures, a global venture capital firm working from the entrepreneurial centers of Lagos, London, and Nairobi. This demonstrates the demand for its services, which are presently used by over one million farmers located in Kenya.

    According to Asif Noorani, the Senior Investment Manager of Impact Investing at I&P, “iProcure is playing a pivotal role in transforming the agricultural sector in Africa by digitising the agro-retailer networks and making last-mile agricultural input distribution more efficient.” The region’s fragmented agricultural inputs market is being brought together as part of iProcure’s main goal to give farmers better access to authentic and affordable agricultural supplies. In The long-term goal is that these methods will bring down the cost of food production and increase food security.

    East Africa’s traditional agricultural supply chains are being changed by iProcure’s new distribution network, which is disrupting the way things have always been done. Use that infrastructure to link important agricultural input suppliers with adjacent agro-dealers directly. 

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     Novastar will continue to provide support to iProcure

    Novastar is still a big fan of iProcure’s plans to grow and enter the markets in Tanzania and Uganda, where they will definitely help the agriculture industry in a big way.

    According to Sara Taylor, who is in charge of Small and Medium Enterprise Funds at British International Investment, “iProcure solves the problem of connecting smallholder farmers with the appropriate inputs at the appropriate time.” BII is excited to work with iProcure to help build a more inclusive, strong, and efficient supply chain for agricultural inputs in Africa.

    “In the five years since Novastar invested in iProcure, the company has grown by 23 times,” said Abel Borrero, Associate Investment Director at Novastar Ventures. This shows how much people want its services, which are currently used by more than a million farmers in Kenya. Novastar is still a big fan of iProcure’s plans to grow and enter the markets in Tanzania and Uganda, where they will help the agriculture industry significantly.

    About iProcure

    iProcure is one of the most popular and best ways for small-scale farmers in rural Africa to get high-quality agricultural inputs. They make use of a proprietary platform, mobile technology, and depots; iProcure has linked input manufacturers and smallholder farmers based on data and demand.

    The platform offered by the company assists businesses with inventory, point of sale activities, and client profiles, in addition to geo-located purchasing patterns, real-time agent performance, and transaction analysis. These features make it possible for regional and international business buyers to buy goods or services from regional and local vendors. They also make it possible for service providers in key industries to improve their agriculture input supply chain.
    In all supply chains, they provide corporate information, data-driven stock management, procurement, and last-mile delivery services. They also benefit producers and consumers because they provide a lot of value.