Internet service provider Mawingu, which initially served customers in the Mount Kenya region, has announced expansion to 25 counties after securing Series B funding from new investors.
Mawingu currently serves 15 counties in Kenya. An investment from InfraCo Africa will add 10 more counties and the overall goal is for him to connect 250,000 Kenyans over the next five years.
InfraCo Africa’s $6 million investment, delivered through a dedicated investment arm, will help Mawingu roll out infrastructure across Kenya, bringing affordable internet connectivity to underserved homes and businesses. allow access.
InfraCo Africa was joined by Mawingu’s institutional investors E3 Capital and Dutch Entrepreneurial Development Bank FMO, who each donated $1.5 million as part of the fundraiser.
Currently, Mawingu serves 7500 customers. The new round of funding will further expand its base and focus on the rural market.
Mawingu’s efforts have been spotlighted by Microsoft Vice Chairman and President Brad Smith, who said Mawingu will target the underserved market of Kenya to provide Internet access to 100 million Africans. I acknowledge that I have contributed to the broad ambition of
1 year ago, Rival Poa! Internet raised his 3.1 billion KES to expand its services across Kenya’s low-income regions and borders.
Mawingu’s fixed data market share in Kenya is 1.5%, placing it sixth in the market. The market is dominated by Safaricom with a 35.6% share, followed by Zuku at 25.5%, JTL at 22.1% and Poa! 10.8% and Liquid Telecom 1.7%.
Mawingu Chief Executive Officer Farouk Ramji said: We aim to help our customers access new opportunities for work, education, entertainment, and social connection through the power of the internet. Our company’s mission is driven by this very purpose: opening up opportunities. Mawingu has established itself as an affordable and quality internet provider, with the ability and desire to connect frontier regions that have never had meaningful internet access. “