Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Investment

Nigerian WiFi Services Startup Raises $2.1M

Article Image
Nigerian WiFi-based ISP Tizeti, which offers its services under the brand Wifi.com.ng, has raised US$2.1 million in seed funding from a range of investors, cash that will enable it to expand its network throughout Lagos and beyond.

Tizeti Network Ltd. builds and operates solar-powered WiFi towers and uses those towers to offer unlimited Internet access services to small businesses and residential users. Its model cuts down on various costs, including the use of generators and diesel, enabling the company to offer Internet access services starting at $30 per month, which the company claims is about 30% cheaper than the prices of incumbent network operators.

Co-founder Kendall Ananyi noted that the funding "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 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."

Investors include Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners, Zeno Ventures and a number of angel investors including Michael Seibel and Gabriel Hammond from seed funding vehicle Y Combinator.

Ananyi, an alumni of Y Combinator, added: "Since graduating from Y Combinator, we've licensed spectrum 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… such as our new Wifi Hotspot Service."

The company notes that as the use of solar power in West Africa grows and the cost of solar panels decreases, it is building out its network of 35 owned and operated towers and offering unlimited Internet access with a basic speed of 10 Mbit/s. It also owns a data transport network that enables submarine cables operators to reach their customers via Tizeti's towers.

The ISP claims it has already "connected thousands of Nigerian subscribers to broadband internet, and continues to capitalise on a market that is witnessing steady growth."

— Ray Le Maistre, Follow me on TwitterVisit my LinkedIn profile, International Group Editor, Light Reading for Connecting Africa.

Innovation hub

Story

Visa shortlists fintech startups for accelerator program

Payments giant Visa has announced the 18 startups from sub-Saharan Africa that were shortlisted for the second cohort of its Africa Fintech Accelerator program.

Story

Leveraging agritech to build resilience against climate change

ICT analyst Francis Hook discusses agritech in Africa and how the agricultural sector is using technology to build resilience against the negative effects of climate change and to ensure food security.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Leveraging agritech to build resilience against climate change

By Francis Hook

ICT analyst Francis Hook discusses agritech in Africa and how the agricultural sector is using technology to build resilience against the negative effects of climate change and to ensure food security.

Story

Omdia View: March 2024

By Omdia Analysts

The failure of four out of the five submarine cables deployed on the western shore of Africa in March 2024 led to a massive Internet outage across several countries. The outage fueled demand for satellite broadband, with SpaceX's Starlink becoming increasingly popular. That and more 5G and streaming news in the latest Omdia View.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002