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African Startup Funding Tracker

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Nigerian Startup Itana Raises USD 2 M Pre-Seed Round
Nigerian Startup Itana Raises USD 2 M Pre-Seed Round

Talent City, now known as Itana, has raised a USD 2 M pre-seed, money it intends to use to establish a digital free zone. The round included investors like Future Africa, LocalGlobe, Amplo and Pronomos Capital. The funding will support the startup’s efforts to improve Nigeria’s ease-of-doing-business index, drive foreign direct investment (FDI), and catalyze employment in Nigeria.

Itana is looking to establish a virtual city in the Nigerian government-led free zones for businesses in the digital and service industry while still offering the same benefits. The first version of the project is Itana Edge, an online one-stop-shop app comparable to global tech products. With it, international businesses, without having a physical presence in a Nigerian free zone, can, upon incorporation and operation in the country, access incentives, including taxation, business visas, banking, capital repatriation and supportive legislation.