Tizeti, a Menlo Park, CA and Lagos, Nigeria based broadband internet startup, closed a $2.1m seed funding.
Backers included international investors Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners, Zeno Ventures (read here) and a number of angel investors including Y Combinator’s Michael Seibel and Gabriel Hammond.
The company intends to use the funds to extend its services across Lagos and the South-South region of Nigeria 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.
Founded by Y Combinator Alumni Kendall Ananyi and Ifeanyi Okonkwo, cohorts of the Winter 2017 batch, Tizeti operates Wifi.com.ng, which 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. Since launching, the company has been building its own solar panel towers in key hubs in Lagos to be more competitive in its pricing, offering an affordable and flexible payment structure. It also offers VOIP and Video on Demand services.
FinSMEs
26/06/2017