Itana

Last updated
Itana
Company typePrivate
IndustryTechnology, Real estate
Founded2022
Founders Iyinoluwa Aboyeji
Luqman Edu (CEO)
Coco Liu (COO) [1]
Website https://www.itana.africa/

 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]

Contents

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]

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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.
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