Itana

 Itana (originally founded as Talent City) is a Nigeria-based company building the first Digital Free Zone in Africa. It enables businesses to operate and function in Nigeria, and Africa without being physically present in the country.[2][3][4][5] The name "Itana" is derived from the word "Itanna" which means "kindling of a fire" in Yoruba language. Itana is currently in its beta stage and plans to go live in the first quarter of 2024.[6][7]

Itana
Company typePrivate
IndustryTechnology, Real estate
Founded2022
FoundersIyinoluwa Aboyeji
Luqman Edu (CEO)
Coco Liu (COO)[1]
Websitehttps://www.itana.africa/

History

In January 2020, Iyinoluwa Aboyeji announced that he and his team are building a futuristic city to support the digital economy.[8]

In August 2020, The Government of Nigeria announced her intention to work with Future Africa in deploying technology to ignite interests and collaboration in the country's free trade zones.[9]

In January 2022, Itana acquired its first physical location - a 72,000 sqm plot in Alaro City, Lekki Free Zone, Lagos. The emerging city is expected to be home to 1,000 residents and 2,500 remote workers.[10][11]

In 2023, the company raised US$2 million in a pre-seed round from LocalGlobe, Amplo, Pronomos Capital, and Future Africa.[12][13]

Community and infrastructure

Itana has launched a digital residency program to bring together startup founders and operators to build for Africa. The Itana District is set to be a live-work-build environment on a 72,000 sqm plot in Alaro City, Lagos, Nigeria.[14][15]

Investors and partnership

Itana is supported by the Nigerian government through the Nigeria Export Processing Authority (NEPZA).[16][17] LocalGlobe, Amplo, Pronomos Capital, and Future Africa are investors in Itana.[18][19]

References
  1. "Itana secures $2 million pre-seed funding to pave the way for Africa's first digital free zone". africa.businessinsider.com/. Retrieved 6 September 2023.
  2. "Itana (formerly Talent City)". chartercitiesinstitute.org/.
  3. "$2 Million Pre-Seed Funding For Africa's First Digital Free Zone". forbesafrica.com/. Oluwatomisin Amokeoja.
  4. "A Peter Thiel–Backed Startup City Wants to Be Africa's Delaware". wired.co.uk/. Laurie Clark, Nelson C.J. Retrieved 10 April 2023.
  5. "Itana (fka Talent City) raises $2M pre-seed to build Africa's first digital free zone". benjamindada.com/. Johnstone Kpilaakaa. Retrieved 6 September 2023.
  6. "Tech firm secures $2 million pre-seed funding". guardian.ng/. Olawunmi Ojo. Retrieved 12 September 2023.
  7. "LocalGlobe and Pronomos Capital back Itana to pave the way for Africa's first digital free zone". techcrunch.com/. Tage Kene-Okafor. Retrieved 6 September 2023.
  8. "Digging Into Andela/Flutterwave Co-Founder's Moonshot Plans To Pull Off A Shenzhen In Nigeria". weetracker.com/. Henry Nzekwe. Retrieved 17 January 2020.
  9. "NEPZA, Future Africa consider technology to sparkle free zones". blueprint.ng. Samson Benjamin. Retrieved 6 August 2020.
  10. "Co-founder of Andela, ex MD of flutterwave, Iyinoluwa Aboyeji wants to build a city with its own law, for techies". intelregion.com. Retrieved 30 January 2022.
  11. "Talent City develops revolutionary tech community in Alaro City". sunnewsonline.com/. Maduka Nweke. Retrieved 31 January 2022.
  12. "Tech firm secures $2 million pre-seed funding". guardian.ng. Olawunmi Ojo. Retrieved 15 September 2023.
  13. "Itana raises $2 million pre-seed to build Africa's first digital free zone". nairametrics.com/. Samson Akintaro. Retrieved 6 September 2023.
  14. "AFRICA'S FIRST DIGITAL FREE ZONE, ITANA, SECURES $2M PRE-SEED FUNDING". businessworld.africa. Philip Adebayo. Retrieved 6 September 2023.
  15. "Itana gets $2m pre-seed to establish Africa's first digital free zone". techpoint.africa. Victoria Fakiya. Retrieved 6 September 2023.
  16. "NEPZA to partner with Binance, Talent City for first virtual free zone in West Africa". thecable.ng/. Busola Aro. Retrieved 2 September 2022.
  17. "Virtual Free Zones: NEPZA, Binance in Partnership". nepza.gov.ng/. Nigeria Export Processing Zones Authority. Retrieved 2 September 2022.
  18. "Indigenous firm, Itana secures $2m pre-seed funding for Africa's first digital free zone". businessday.ng/. Daniel Obi. Retrieved 12 September 2023.
  19. "How to create a city". ft.com. David Pilling. Retrieved 18 January 2023.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.