Lagos-based advertising-technology startup TaxiTV has raised an undisclosed amount of seed funding in a round led by Beta.Ventures.
Other backers in the round include Collins Onuegbu of SASWARE, Sam Senbanjo of Neon Ventures and several prominent individual investors.
Founded in October 2017 by Akinbola Asalu and Dami Osiyale, TaxiTV provides advertising channels for corporate brands and SMEs through screens inside Taxify, Uber and other ride-hailing services.
These advertorial video contents are displayed to passengers during a ride.
Most of the ads are fixed inbetween entertaining content. TaxiTV says it pays content creators a share of the revenue, and drivers also get a cut.
According to its website, it has a screen in over 100 cars in Nigeria. It intends to use the seed funds for product development, to scale and also improve sales execution.