South African internet provider receives investment from Bamboo fund

The BLOC Smart Africa fund, initiated by the Smart Africa Alliance and managed by Bamboo Capital Partners, has announced an investment of $585,000 in TooMuchWifi, a South African internet service provider. BLOC SA led the $1 million pre-series A round, catalysing additional capital from Connectivity Capital, Atreyu Investments and a European family office together with existing investors who made follow-on investments.

TooMuchWifi is bridging the connectivity gap by bringing fast, uncapped and affordable fibre-backed internet to under-serviced, densely populated areas of South Africa, like townships. The proceeds of the funding will go toward scaling operations to increase presence in the existing markets and expand into new communities.

Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.