Zeno Ventures, a venture capital firm based in Geneva and San Francisco, has closed a round of investment in Tizeti Inc. which currently provides fast Wi-Fi services in Nigeria. The investment amount has not been disclosed but it has been stated that the main aim is to enable Tizeti to expand their services into the rest of Afrika.
Tizeti participated in the recent Y Combinator batch of startups.
Part of what makes Tizeti unique is their solar powered Wi-Fi towers which they have deployed in Lagos. As the company also explains, using solar powered Wi-Fi towers jhelps them leverage the plummeting cost of solar panels and its low operating expense to power its base stations and passes the savings to its customers.
Tizeti has developed a cost effective solution to provide reliable broadband internet services to densely populated urban centers in Africa. The company owns the last mile delivery network that routes internet connectivity from submarine cables to its customers' locations through its collection of solar powered Wi-Fi towers in central Lagos.
Tizeti's consumer facing brand, Wifi.com.ng, offers unlimited data plans starting at $30 per month as well as hot spot services for short term use.
"Currently, less than 1% of Africa's population has a broadband subscription. Tizeti provides unlimited plans at an affordable price - 30% lower than existing mobile offerings." explained a statement by Zeno Ventures announcing their investment in Tizeti.
Tizeti is now the seventh investment of Zeno Ventures, which has completed a closing of its debut fund earlier this year. Zeno Ventures has also invested in Breaker, Joy, Labdoor, Snappr, Standard Bots, Starcity and Tizeti.
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