Zeno Ventures has invested an undisclosed amount of money in Nigerian startup, Tizeti. Tizeti is a Lagos-based Information Communications Technology (ICT) provider. The funds invested is expected to help Tizeti bring its service to more people on the continent. The startup was launched in 2012.
The mission of Tizeti is to provide decent and affordable Internet connectivity to people living in urban areas. They are going about this by building solar-powered Wi-Fi towers which carry Internet from submarine cables to customers’ location. Quite a very good idea if you ask me.
Wifi.com.ng is their consumer brand, with which Tizeti offer its users unlimited Internet access for US$30 (about N10,000) per month, as well as hotspot services for short term use.
Given the high internet penetration in Nigeria, but poor internet connection always experienced in the country, it’d be wise to say that this startup is actually solving a need. They are addressing the need for good and affordable internet.
Tizeti is expected to use the funds to expand its services across the continent, also providing unlimited data plans at an affordable price to the millions who don’t have access to a broadband subscription. Though we do not know where their first stop country in the continent would be.
The Geneva and San Francisco-based venture capital company invests internationally in fast growing technology startups. Tizeti is currently its seventh investment.
Also worthy of note is the fact that Tizeti participated in one of the world’s most famous incubator – Y Combinator. It graduated Y Combinator’s Winter 2017 (YC W17) batch where it received a huge support, both in cash and kind.