Nigerian startup, Tizeti, which focuses on development of solar powered WiFi towers with its Wifi.com.ng service, announced that it had secured USD2.1 million in funding through US-based Y Combinator from several investors.
The company operates widely as a “Comcast for Africa”, builds and operates solar-powered towers to provide reliable and affordable Wi-fi services to hundreds of residential areas and SME’s across Nigeria’s megacity.
The capital injection, secured as part of this seed round, will see services extended across the city and the South-South region of Africa’s most populous country, by launching an Xfinity Wifi-like Hotspot service, as well as scaling up mobility with the inclusion of 3,000 new public hotspots across Lagos.
“Today’s seed announcement allows us to grow aggressively in the Nigerian market, and we will continue to invest in building out our own solar-powered infrastructure, as well as refine and expand our consumer-focused product,” said Kendall Ananyi, the CEO of Tizeti, in a press release.
The company aims to become a “Comcast for Africa” by building and operating solar-powered WiFi towers around Lagos.
Tizeti wants win over Lagos by expanding its solar-powered WiFi towers
Since Tizeti’s Wifi.com.ng uses its own infrastructure to support its WiFi network, it has a competitive advantage with its pricing, which starts at $30 a month.
This new injection of capital will allow the company to include an extra 3 000 WiFi towers across Lagos. Ananyi also mentioned that the company plans to “win” over Lagos by expanding across the West African region in the next two years, Venturburn reports.
“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, which will put Tizeti in a stronger position to roll out additional services to more people such as our new Wifi Hotspot Service,” said the company’s co-founder Kendall Ananyi.