Startup News

3 Itanna Start-ups Secure Deals with Corporate Partners

Itanna - cfamedia

Three start-ups that recently completed Itanna’s (a Lagos-based accelerator) four-month programme has secured an average of two partnerships each, thanks to support from the accelerator.

Itanna is an accelerator programme launched by Honeywell Group last year, held the demo day for its second cohort last month.

The startups that participated in the 2nd cohort programme include edtech Simbi Interactive, proptech E-estate, on-demand automobile service technology platform Carido and healthtech GeroCare.

Out of the four start-ups, three (Simbi Interactive, proptech E-estate and GeroCare) secured $30 000 investments from Itanna.

The automobile service technology platform Carido did not complete the programme and therefore wasn’t eligible for any investment.

Francis Vesta, Itanna senior investment analyst, told reporters that the partnerships the cohort sealed emanated from introductions it made with banks, local government councils and leading corporate entities.

“E-estate entered into sealed a deal with Urban Shelter and the Honeywell Group to provide estate and access control services respectively,” Vesta stated.

“The other startups have ongoing conversations with potential partners. These are B2B conversations that tend to extend into weeks as terms are fine-tuned. However, they were all initiated during the accelerator programme,” stressed Vesta.

He further states that, during the four months period of the cohort, Gerocare grew its individual subscriptions by 12% to 2934 subscriptions, while E-estate increased the number of apartment units in its portfolio by 30 times and saw a 115% growth in revenue.

Also, Simbi interactive has seen a 200% increase which amounts to 6000 users by the end of the programme in the number of users that has signed up to its platform.

Vesta also stated, “The curriculum has been strategically positioned to allow for more feedback sessions and ensured our team was able to track the progress of each start-up as they optimised their business models and technology while positioning for product-market fit”.

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