Nigeria’s blockchain-powered Wi-Fi sharing startup Wicrypt has completed a $1.5 million funding round to expand into other countries. The round was led by AU21 Capital, alongside participation from Sandeep Nailwal, Polygon founder, Cardano’s Occam, Outlier Ventures, Inclusion Capital, Onega Ventures, Pluto Digital Assets, Chain Capital, N7 Labs, and PolkaFoundary.
Wicrypt is a decentralized mobile internet sharing and monetization network allowing people to get paid for sharing their Wi-Fi. Users can download the Wicrypt app, provide Wi-Fi through their mobile devices or buy unique, custom-built Wicrypt Hotspot Creator devices.
Wicrypt launched in 2018 and has signed an exclusive partnership with the city of Enugu in Nigeria to offer internet services to its citizens. The startup only reached profitability in 2020 and has thus far raised $1.5 million channeled towards scaling.