Tech in Africa
Africa Development Bank (AfDB) backed infrastructure financier Africa50 and several African governments just hosted an innovation challenge seeking affordable and reliable solutions for last-mile connectivity across Africa. Kenyan startup Poa Internet submitted a winning proposal beating 673 others worldwide adding to Africa50’s investment pipeline.
A year after this win the internet service provider (ISP) has raised a $28 million Serie C funding round led by Africa50. The company has thus far raised $36 million. One of the firm’s earliest backers Novastar Ventures also took part in the round.
Poa will use the funds to grow its reach across the country and progressively advance to other countries. Andy Halsall, the CEO of Poa Internet told TechCrunch “We are focused on Kenya at the moment, but the problem we’re solving is continent-wide.”
Poa Internet servers over 12,000 customers in Nairobi’s low and middle-income neighborhoods through street wifi connections. The company has laid out its fiber network neighborhoods that are typically not the top targeted markets by providers such as Safaricom, Zuku, and Faiba by Jamii Telecommunication Limited.
Poa Internet charges customers a monthly $13 fee – about half the market rate. Its customers get unlimited data, a highly attractive aspect to internet users countrywide where major ISPs offer data capped monthly subscription bundles. The startup is also setting up public wifi hotspot areas. More on TechCrunch
