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TaxiTV, a Lagos based advertising-technology startup has raised an undisclosed funding to use technology to allow brands advertise to consumers through in-cab screens inside Taxify, Uber and other ride-hailing services in Nigeria.
Using display screens showcasing documentaries, comedies, neighborhood insights, news, sport, weather, among others, TaxiTV allows customers to customize every brand experience, capture data and help generate leads. The platform was founded in October 2017 by Akinbola Asalu, CEO, and Dami Osiyale, COO and provides advertising channels for corporate brands and SMEs.
Conceptualized in October 2017 by co-founders Akinbola Asalu and Dami Osiyale came up with the concept for TaxiTV, they envisioned screens in yellow cabs in New York City and reworked it for Lagos and in Nigeria in general and quickly purchased a few screens, loaded them up with content, and ADs from businesses of their closest friends.
In January of 2018, they were fully operational, their screens were roaming all over Lagos and because of growth needed to sign up more drivers, content providers and advertisers. However, one of the biggest problems they had was having drivers to buy tabs for the platform until FINT, joined in as a partner to provide financing for driver partners.
“In March, we approached Investors from Beta.Ventures with what we were doing, our vision and our plan, they resonated with us, and agreed to invest, we are thrilled to announce we just closed a seed round of investment lead by Beta Ventures,” the firm announced. “We intend to use the investment to scale, for product development and to improve our sales execution as well. Fast execution and being ahead of the pack is really key in our business and this investment would make building things happen as quickly as possible.”
In the coming weeks, the firm says it would be launching a self-serve that allows SMEs advertise on the platform for as low as 25,000 Naira then launch in Abuja in August. The current driver partners are earning 6,500 Naira weekly on an average. One could earn more if more ads are seen while your passengers are on a ride.
