TaxiTV Raises Seed Fund From Beta.Ventures

0
1066

TaxiTV, a Lagos based advertising-technology startup has secured an undisclosed amount of seed funding in a round led by Beta.Ventures.

TaxiTV is an in-ride entertainment system startup founded in October 2017 by Akinbola Asalu, CEO, and Dami Osiyale, COO.

The startup provides advertising channels for corporate brands and SMEs through screens inside Taxify, Uber and other ride-hailing services.

These advertorial video contents are displayed to passengers during a ride.

Most of the ads are fixed inbetween entertaining content. TaxiTV says it pays content creators a share of the revenue, and drivers also get a cut.

According to its website, it has a screen in over 100 cars in Nigeria. It intends to use the seed funds for product development, to scale and also improve sales execution

Other backers in the round include Collins Onuegbu of SASWARE, Sam Senbanjo of Neon Ventures and several prominent individual investors.

In Q2 2018, Nigerian startups collectively raised $73.6 million.

Suggested read: “Nigerian startups raised $73.6 million in Q2 2018, 700% more than Q1”- Report

Though undisclosed, the TaxiTV seed funding is the first announced round for Nigerian startups in Q3.

In Q2 2018, Nigerian startups raised a total funding of $73.6 million. Download our report to find out more.

SHARE
Previous articleAfrica’s biggest phone company sells Cyprus unit to Monaco Telecom for $304 million, exits EU market
Next articleAhead Of Next T-Bills Auction Scheduled 18th of July 2018
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.