Nigerian Startup Tizeti Makes Big Moves, Receives 2.1 Million In Funding
Tizeti and its consumer facing brand, Wifi.com.ng, received an estimated $2.1 million in seed funding from various international investors.
Like what you're reading?
Get more in your inbox.
The company called the “Comcast for Africa” has made a name for itself building and operating solar-powered towers that provide affordable Wi-Fi services to hundreds of residential areas and across Lagos, Nigeria. According to IT News Africa, Tizeti will use the seed funding to expand launching a Xfinity WiFi-like Hot spot service that will have an estimated 3,000 new public hot spots in the city of Lagos.“[The] seed announcement allows us to grow aggressively in the Nigerian market," Tizeti co-founder Kendall Ananyi said in June. "We will continue to invest in building out our own solar powered infrastructure, as well as refine and expand our consumer focused product that delivers reliable, cost-effective Wifi to potentially millions of Nigerians. We aim to ‘win Lagos,’ with a view to expanding across the West African region over the next 18-24 months."
Ananyi and his partner Ifeanyi Okonkwo created the company to address the internet connectivity woes in the nation. Since 2012, their start-up has provided unlimited internet service to hotels, restaurant, and businesses in Lagos for more than 3 years and counting, per Techpoint.
Ananyi added “Since graduating from Y Combinator, we’ve licensed Spectrum (fees and pricing) from the Nigerian Government and signed an IRU contract with a Submarine Cable provider to extend the coverage of our Unlimited Internet Service," Ananyi added. "[It] will put Tizeti in a stronger position to roll out additional services to more people such as our new Wi-Fi Hot spot Service."