Lagos-based advertising technology startup TaxiTV has secured an undisclosed amount of funding in a seed round led by Beta.Ventures as it looks to scale its product, expand to other cities and improve its sales execution.
Founded in October 2017 by Akinbola Asalu and Dami Osiyale, TaxiTV provides a new advertising channel for corporate brands and SMEs.
It install screens inside the vehicles used by ride-hailing services such as Taxify and Uber, and provides customers with entertainment while also serving adverts.
The funding round – which Osiyale told Disrupt Africa is worth over US$50,000 – is led by Beta.Ventures, while other backers include Collins Onuegbu of Sasware, Sam Senbanjo of Neon Ventures and several prominent individual investors.
The company intends to use the funds for scaling, product development and to improve its sales execution. It already has its screens in over 200 cars and has worked with more than 10 brands and over 50 SMEs.