Tizeti Secures $3M Series A Fund After Raising $2.1M 15 Months Ago
Nigerian ISP start-up Tizeti and its consumer-facing brand, Wifi.com.ng has closed a Series A round of $3M. This follows on from the Tizeti’s seed investment of $2.1M in 2017.
The round was led by 4DX Ventures alongside participating existing investors such as Y Combinator Continuity, Lynett Capital, Social Capital, Western Technology Investment, Friále, and Golden Palm Investments.
Tizeti will use this financial commitment to expand functions outside of Nigeria and will release a new consumer-facing product Wifi.Africa later this year, starting with nearby Western Africa nation, Ghana.
The company will also make further investment in strategies, product development, and overall client experience, with a perspective toward increasing productivity significantly.
The company which functions widely as a “Comcast for Africa”, develops and functions solar-powered systems in Nigeria, while also offering homes, businesses, activities, and conferences with endless high-speed access to the internet with a coverage of 70% in Lagos.
Upon graduating from Y Combinator’s Winter 2017 batch, Tizeti has installed over 7,000 public within Nigeria with 150,000 users and in November 2017, announced a partnership with Facebook to offer Express Wi-Fi in the country, to roll out hundreds of internet hotspots across Nigeria’s capital.
Since its graduation from Y Combinator’s Winter 2017 set, Tizeti has set up over 7,000 public Wifi hotspots within Nigeria with 150,000 users. In November 2017, the company declared a collaboration with Facebook to offer Express Wi-Fi in Nigeria.
In a statement released, Kendall Ananyi, CEO, and Co-Founder of Tizeti says, “Tizeti was built to tackle poor internet connectivity not only in Nigeria but on the continent, by developing a cost-effective solution from inception to delivery, for reliable and uncapped internet access for potentially millions of Africans. We have grown rapidly in the Nigerian market in the last 12 months and expect to continue this trajectory, as millions more Africans come online. This Series A investment allows us to continue providing a peerless service in Nigeria, building out our customer base there, as well as scale across Africa, starting with Ghana”.
Through its impressive use of solar-powered platform channels, Tizeti can considerably decrease working expenses which allow the organization to be hyper-competitive when it comes to subscription packages; a Wifi.com.ng unlimited monthly plan in Nigeria is in the expense of $30 [₦9, 500].
This, together with the company’s extensive coverage reach, has given Tizeti an advantage over their competitors in the ISP industry, developing the younger organization as an ICT and technical facilities innovator.
As part, this financing round, Walter Baddoo Co-Founder & Managing Partner of 4DX Ventures joins Tizeti’s Board of Directors.
“Reducing the cost of data in Africa is a critical step in accelerating the pace of internet adoption across the continent. Tizeti, driven by a stellar company culture, has built a world-class network that delivers data to users at a fraction of the current cost. 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.”, Walter affirms
Tizeti has been deploying high-speed internet access to estates, offices, multi-tenant building using next-generation wi-Fi technology. They deploy unlimited internet to residential and business customers which allow customers get the full benefit of the internet with no data or time caps.
Featured image: blavity