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Kenyan Low-Cost Isp Poa Internet Secures $28 Million In Round Led By Afdb-Backed Africa50, Plans To Link Region With Cheap, Limit-Free Connectivity

Jan 18, 2022over 3 years ago

Amount Raised

$28 Million

Other

Description

In 2020, Africa50, an infrastructure financier backed by the Africa Development Bank (AfDB) Group and a good number of African governments, hosted an innovation challenge that sought affordable and reliable solutions for last-mile internet connectivity across the continent. A proposal by Poa Internet, a Kenyan startup beat 673 others from across the world as a result of which it was added to Africa50’s investment pipeline in addition to winning a cash prize.

Company Information

Company

Isp

About

The startup has laid out its fiber network in neighborhoods that are typically not the first target markets for its competitors like Safaricom Home by East Africa’s biggest telco Safaricom, Faiba by Jamii Telecommunication Limited and Zuku. The startup has also set up Wi-Fi hotspots in public areas, where users pay about $0.18 for 1 GB of data, 10 times cheaper than the country’s telcos charge for a similar bundle of non-expiring internet.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech