Nigerian Wireless ISP Startup, Tizeti Raises $3 Million Funding to Aid African Expansion
With its eyes on expansion across Africa, Nigerian Wireless Network Service Provider, Tizeti, has just raised $3 million in a new round of funding as it rolls out unlimited internet service across the continent beginning with Ghana.
This round of funding was facilitated by newly launched Africa focused fund, 4DX Ventures. Barely a year after, Tizeti now covers more than 70 per cent of Lagos having installed over 7,000 public Wi-Fi hotspots in Nigeria with currently 150,000 users.
— TechCrunch (@TechCrunch) September 4, 2018
Tizeti, which is currently disrupting the Nigerian market with an unlimited data service offer through its signature brand Wifi.com.ng, was launched in 2017 and has since then gone ahead to install solar powered-wireless towers, that provides residences, businesses, events and conferences with unlimited high-speed broadband internet access.
And as we know the high connectivity costs is one of the hurdles embattling internet adoption in Africa, take that out and you have an accelerated internet penetration.
This the Nigerian startup is doing be offering this unlimited services at the cost of $30 per month, a price it’s able to achieve through the use of cheap solar electricity to power its towers. All of which is being powered by a network of new undersea cables stretching along the ocean floor that is bringing connectivity to the continent.
Congrats to our @GoldenPalmVC portfolio company @tizeti and CEO @kananyi on the new round of funding. Using solar energy to power its wireless towers, Tizeti provides unlimited high-speed broadband internet access in Africa. We're excited to be on this journey with the team. https://t.co/PFOmZ7DYy5
— AJ Okereke (@a_ok10) September 5, 2018
“Tizeti was built to tackle poor internet connectivity not only in Nigeria, but on the continent as a whole, by developing a cost-effective solution from inception to delivery, for reliable and uncapped internet access for potentially millions of Africans,” said Kendall Ananyi, the co-founder and chief executive of Tizeti.
On his part, Walter Baddoo, one of 4DX Ventures co-founders (and a new addition to the Tizeti board), said that the value in Tizeti as a company offering the needed solution is very high, which is why they have decided to be a part of it.
“If you take the efficiency of point to multipoint wireless technology and you add to that solar infrastructure, you leap-frog a generation of infrastructure. That makes getting cheap data to the hands of customers much easier. Tizeti makes it easier and cheaper to connect Africa to the global digital economy and we are excited to partner with Kendall and his team on this mission.” Baddoo says.
We are so excited for our portfolio company @tizeti and CEO @kananyi. #Tizeti provides unlimited high-speed broadband internet access in Africa through solar-powered wireless towers. The hard work continues! #impact #investing https://t.co/hrWCyUs19U
— Golden Palm VC (@GoldenPalmVC) September 5, 2018
Tizeti is the latest addition to the list of 4DX Venture portfolio startups, which includes – Sokowatch, a startup connecting local African retailers to international suppliers; the outsourced programmer placement and apprenticeship service, Andela; and the integrated pharmacy supplier and operator, mPharma.
With these new funding, Tizeti is now eyeing the pan-African market for wireless broadband, specifically the continent’s top 15 cities where the demand for connectivity is high.
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