Nigerian Startup secures $2.1 Million From Seed Funding

Nigerian startup that got $2.1 Million
Kendall Ananyi, Tizeti Co-Founder

Tizeti -the Nigerian startup with the ingenious solution to the infamous internet connectivity issues in Africa that makes you want to pull out your hair- has acquired a total of $2.1 Million from international investors including Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners, Zeno Ventures and a number of angel investors including Y Combinator’s Michael Seibel and Gabriel Hammond.

Now that’s one more African startup added to the success list.

Kendall Ananyi, Tizeti Co-Founder

The graduates from the famed Silicon Valley tech incubator, YCombinator are offering a simple solution …build more towers, more cheaply, and offer internet services at a cost that makes sense for consumers in the urban environments where most people actually live.

“We are really pleased with this round of investment. It will help us to continue building our own solar powered outdoor Wi-fi infrastructure in Lagos to deliver unlimited internet, as well as supporting the launch of our new Xfinity Wifi-like Hotspot service, which will see the creation of 3,000 new public hotspots across Lagos.” says Tizeti founder Kendall Ananyi.

Out of the 1.2 billion people in Africa, 26% are on online and 6% have internet subscription.

As the use of solar power in West Africa grows, Tizeti is building out its network of 35 owned and operated towers, taking advantage of the rapidly decreasing cost of solar panels in the region; providing unlimited, undisruptive internet with a basic speed of 10mbps. Additionally, the company owns a delivery network that facilitates internet connectivity from Submarine Cables directly to their customers through its solar-powered Wifi towers.

Tizeti is competitive in its pricing, in fact, cheaper than some of the well-known Nigerian telcos.The company’s subscriptions start at $30 per month.

Information sourced from forbes.com, techcrunch.com and itnewsafrica.com

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