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iProcure
B2B agritech startup
- Category:
- Agriculture
- Country:
- Kenya
- Founded:
- 2012
- Cause of Failure:
- lack of funding, economic instability
- Outcome:
- In administration
- Shut Down in:
- April 2024
- Founders:
- Stefano Carcoforo, Nicole Galletta, Patrick Wanjohi, Bernard Maingi
- Number of Founders:
- 4
- Number of Employees:
- 101-250
- Funding Amount:
- $17.20 M
- Last Funding Round:
- Grant
- Notable Investors:
- Spark Accelerator, Investisseurs & Partenaires, USAID
About iProcure
iProcure was a B2B agritech startup that provided farmers with access to quality inputs and services. iProcure's tech empowers agritech retailers with inventory management, POS, client profiling, geo-targeted insights, real-time performance tracking, transaction analysis, and mobile payments.
What went wrong?
The company faced severe financial difficulties, unable to meet daily obligations. To sustain operations, they sought additional investment from shareholders and potential investors. The company filed for bankruptcy in April 2024.
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