I’m sure you’ve not forgotten all about Tizeti, who are the company behind wifi.com.ng,and providing unlimited internet service to estates, SMEs, hotels, restaurant, and even large corporate organisations in Lagos for more than 3 years and running.
Well, that’s not news, as the real news goes that the startup have raised up to $2.1 million in seed funding. This funding was contributed by the following investors, most of which are international.
Western Technology Investment, Social Capital, Vy Capital, Picus Capital, Ace & Company, Lynett Capital Partners, Zeno Ventures, also including Y Combinator’s Michael Seibel and Gabriel Hammond. I must say that these venture capitalists have done well to invest in such a startup that witnessing real rapid growth in the industry they serve.
“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 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,” said Kendall Ananyi.
Well, as said by the CEO, Kendall Ananyi, they would most likely use the funds to expand. With the new capital injection, they plan to scale up their service in Lagos, with 3000 new public hot-spots, as well as expand to the South-South region of Nigeria.
I don’t know why South-south was chosen over all other zones though, but I also think the South western region would be a good start. Asides, seeing them expand rapidly across Africa would do real goodness to the startup industry in Nigeria.
On why Tizeti’s prices are lower than other established ISPs in the country, they have decided to minimize coat by being creative. This they did by replacing diesel with solar-powered base stations spread across Lagos. Surely the height of creativity.