TaxiTV has raised more than $50,000 in a seed funding round led by Beta.Ventures. According to a report in Business Insider Sub Saharan Africa, Beta.Ventures is a Nigeria-based investment company funding early-stage entrepreneurs scaling tech and tech-enabled startups to become market leaders.
Other investors that participated in the seed funding are Collins Onuegbu of SASWARE, Sam Senbanjoof Neon Ventures, and several other individuals.
Commenting on the development, Akinbola Asalu, CEO of TaxiTV said that the new funding will help the startup to scale and expand to other parts of the country.
His words: “We are really excited about this, it would help us achieve the vision we have for the company and get the product to other parts of the country.”
He disclosed that the seed funding is worth between $50,000 to $100,000.
On what to expect from TaxiTV, Asalu said the firm is testing a self-service feature that allows advertisers to pay for ads and upload ads directly on TaxiTV platform.
Launched in October 2017, Taxi TV is an in ride entertainment system for riders to enjoy content in ride-hailing cars. The startup provides advertising channels for corporate brands and SMEs in Nigeria. As at June 5, 2018, the startup has about 150 drivers on its platform.
