Nigerian advertising-technology company, TaxiTV, has secured more than $50,000 in a seed funding round led by Beta.Ventures.

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 Senbanjo of Neon Ventures and several other individuals.

Akinbola Asalu, CEO of TaxiTV told Business Insider Sub-Saharan Africa on Monday, July 16, 2018, that the funding will help the startup to expand to other parts of the country.

“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 told Business Insider that the seed funding worth between $50,000 to $100,000 without further details.

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 and began full operation in January 2018, the startup is working to make the ad-tech screen a feature in every premium cab available in every city across Nigeria by 2019.

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 had about 150 drivers on its platform.

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