Swoop, an Eswatini food delivery startup, has raised $7.3 million in seed funding to support its expansion into Nigeria as it pursues its super-app model outside its home country for the first time. 

The round, backed by Silicon Valley investors including Long Journey, Variant, Version One, Dune Ventures, Soma Capital, and Zero Knowledge Ventures, will fund the buildout of a consumer platform starting with food delivery. Walter Kortschak and Base Capital also participated. 

Swoop’s seed raise is one of the largest seed rounds disclosed by an African consumer startup, and nearly as large as the $9 million Series A that Chowdeck closed in August 2025 after four years of operations and expansion into 11 cities. 

“It’s super hard to build a super app, and our investors recognise that. They recognise that you need a bit of runway and foundation to be able to do the things that you need to do operationally,” said Demola Adesina, Swoop’s Nigerian country manager. 

Swoop believes Nigeria’s food delivery market—valued at $1.1 billion in 2025—has more room to grow than its competitors suggest. According to Nigerian payments processor Paystack, which processes payments for Swoop and all the major food delivery companies in Nigeria, the sector grew by 187% between 2021 and 2024. 

Nigeria’s ratio of food ordered for delivery to food consumed outside the home is far lower in the country than in peer markets in Africa or Southeast Asia, and the real opportunity lies in converting non-consumers rather than poaching existing users, Adesina said. 

“We think that the food delivery space in Nigeria is still significantly under-penetrated. Our target is not existing consumption but the users that are not consuming,” he said. “We are not getting into a war with other platforms. We are trying to grow the pie.”

Swoop, formerly known as Thumo, launched in Eswatini in August 2025 and acquired 6,000 users in its first month, according to co-founder Aubrey Niederhoffer. Edwin Ruiz, another co-founder, told local press in Eswatini that the goal was to build a pan-African super app combining food, groceries, and rides. 

The startup is starting with food delivery in Yaba, a neighbourhood in Lagos Mainland, already served by Chowdeck, Glovo, and FoodCourt, its competitors in Nigeria’s growing food delivery sector. 

“There is more confidence regarding regulatory risk, and international investors committing capital to us proves that,” Adesina said. “Beyond that, I am passionate about Nigerians. There is better market education and more interest in positively changing consumer habits. We think this is the perfect time to build on that.”

Swoop says it uses a network of independent riders rather than an employed fleet, generating revenue through commissions on restaurant sales and customer handling fees. While riders retain 100% of delivery fees, the startup applies a 7% service charge to fund operations.

Adesina declined to disclose the startup’s fee structure or unit economics, saying current fees are low because the priority is user acquisition. He added that the company is not interested in a price war. 

“Our approach is to find the reason why some people are not consuming [through food delivery] and to make them consumers. We are not just slashing prices and getting into a price war,” he said. 

Picking food delivery as the first vertical in a multi-product approach allows Swoop to acquire daily customers that create a habit with the app, a proven but costly growth engine for its super-app ambitions. OPay, one of Nigeria’s largest fintechs, initially bundled food delivery and ride-hailing with its payments wallet to drive daily usage for its wallet before shutting down the non-fintech products.

“Food delivery is a metric for how developed the ecosystem is. If you get food delivery right, you can essentially be the node of the ecosystem,” Adesina said. 

“We believe that if we have a group of customers around that node, we are able to translate that into other areas and verticals,” he shared, adding that Swoop will let its users determine the next vertical to launch. 

Nigeria’s ‘difficult’ food delivery market

Food delivery in Nigeria is a tightly contested sector that has claimed many startups and local divisions of well-funded international companies like HelloFood, Jumia Food, Bolt Food, and OFood, as the unit economics rarely work at scale. According to Jumia’s 2022 financial report, its food delivery arm lost $1.80 for every $10 it made. 

The logistics and marketing costs exceeded the revenue made from the order, which meant Jumia was essentially paying customers and restaurants to use the service. These unit economics are a primary reason why Jumia eventually shuttered its food delivery business in late 2023.

Despite Jumia Food’s shutdown, Chowdeck, the largest food delivery platform in Nigeria, serves two million registered users with over 20,000 riders operating across 14 cities in Nigeria and Ghana while maintaining profitability, a rare feat for young food delivery startups. 

Swoop’s strategy will require acquiring high-volume, lower-income customers on the outskirts of Lagos and in smaller cities, where local restaurants and quick-service outlets dominate, if it is to create a new set of food delivery consumers.

Whether Swoop becomes a success depends on three things: what it builds after food delivery and in what order, a monetisation strategy that ensures it is profitable, and whether it can scale beyond Yaba and Lagos before it runs out of cash. 

Vandalism of telecom infrastructure in Nigeria has more than doubled since May 2025, rising from an average of two to five incidents per day, according to data compiled by the Association of Licensed Telecommunications Operators of Nigeria (ALTON). This sharp increase, amounting to 445 cases over 88 days, has led to widespread network outages, affecting voice calls, internet access, SMS, and USSD services across all major mobile network operators.  

Gbenga Adebayo, President of ALTON, told TechCabal that the attacks have grown increasingly aggressive. 

“In many cases, the vandals now confront site engineers directly and demand ransom before releasing stolen cables,” Adebayo said, highlighting the escalating threat to telecom operations. The highest number of vandalism incidents has been recorded in states such as Delta, Rivers, Cross Rivers, Akwa Ibom, Ogun, Ondo, Edo, Lagos, Kogi, FCT, Kaduna, Nigeria, Osun, Kwara, and the Federal Capital Territory (FCT), Abuja. 

Vandalism against telecom infrastructure in Nigeria has been most severe in states like Delta, Rivers, Cross River, Akwa Ibom, Ondo, Edo, Kwara, and Kaduna. The impact peaked in May 2025, with 88 network outages linked to fibre cuts, equipment theft, and power failures. That number declined to 71 in June and 27 in July, but the threat remains persistent. 

Telecom operators in Nigeria face rising challenges beyond theft and vandalism of assets like copper cables and diesel. In many cases, local communities demand compensation before allowing repairs, delaying service restoration, and increasing operational costs.

In June, the Nigerian government issued the Designation and Protection of Critical National Information Infrastructure (CNII) Order, which recognises telecommunications as critical infrastructure and makes its deliberate damage a criminal offence. 

The Nigerian Communications Commission (NCC) is leading the rollout of the CNII framework, supported by security agencies: the Office of the National Security Adviser (ONSA) coordinates overall strategy; the Inspector General of Police leads enforcement; the Department of State Services (DSS) provides intelligence on emerging threats; and the Nigeria Security and Civil Defence Corps (NSCDC) is charged with protecting telecom infrastructure on the ground. 

Industry stakeholders say implementation has fallen short. Despite the rise in vandalism, there have been no reported arrests or prosecutions. The NCC declined to comment on the matter. 

“We appeal to every Nigerian to please join us in the fight against the vandalisation of telecom infrastructure,” said Adebayo. “These assets power our banks, emergency services, education, healthcare, security systems, and daily communication. Attacking them is an attack on our economy and national stability.”

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On the evening of March 24, the launch of Kava, a new streaming platform for Nollywood and African content, brought together the worlds of music, film, and technology. Prodigy saxophonist Temilayo Abodunrin serenaded actor Shaffy Bello, who danced joyfully amid industry veterans, filmmakers, and investors.

Set to launch in August 2025, Kava, a subscription-based platform, is a collaborative effort between InkBlot Studios, an industry heavyweight behind box office hits, and Filmhouse Group, West Africa’s largest cinema chain. 

“We’re building a platform that doesn’t just stream films—it fuels careers, drives innovation, and connects African creativity to audiences around the world,” said Kene Okwuosa, Kava’s co-CEO and head of Filmhouse Group.

In a panel discussion, Kava’s co-CEOs, Okwuosa and Chinaza Onuzo, revealed the venture’s ambitious origins. What began as an idea five years ago only started taking shape three months prior. Onuzo, whose production company has collaborated with Filmhouse for nearly a decade, asserts the timing is now perfect for their vision: to build a sustainable digital ecosystem for African storytelling.

Kava has a point to prove

Nollywood has a remarkable history of reinvention, continuously adapting its distribution model from VCD rentals to cinemas and now, streaming. Today, global giants like Netflix and Amazon Prime, alongside YouTube and local pioneers like IROKOTV, offer vast movie catalogues.

Despite Nollywood’s increasing popularity, especially among the diaspora, no platform has yet cracked the code on making African stories a global streaming staple and a sustainable business. U.S. giants like Netflix and Amazon Prime, after significant investments, are scaling back operations in Nigeria..

Homegrown platforms like IrokoTV also exited the Nigerian market, with founder Jason Njoku candidly stating, “Between the revenues we generated and the venture capital we raised $35 million over the first ten years, we easily spent $100 million trying to win. We were just there, in full survival mode, operating in the toughest conditions possible.”

However, Damola Ademola, co-founder of Inkblot and Kava’s product head, remains optimistic. He told TechCabal that IrokoTV “may have been ahead of its time,” noting that when the company launched nearly a decade ago, “broadband networking was not as penetrative on the continent.” Now, he argues, “a lot more people are used to the concept of streaming. It’s an easier sell.” 

Ademola draws parallels to successful niche services like Crunchyroll for anime and Shudder for horror, asserting, “African movies can easily be just like that.” He even cites a surprising example of Nollywood’s global reach: “Before the Ukrainian war, every time we released a Nollywood movie, we would see a spike in Ukraine… it means that our content can be universal, can be global.”

Kava Co-CEO Onuzo further emphasises the existing global consumption of Nigerian content: “One of the things that the streaming era showed us was that our content is consumed all over the world. I don’t know how many Nigerians are in Brazil, or Argentina, but you find that our content trots well and people engage it.”

Kava aims to capitalise on this interest by delivering high-quality, diverse content at scale. “When we’re able to deliver content at scale to audiences that are not just us, they will understand and fall in love with the stories that we have. They just don’t know it yet, but they will fall in love with us.”

At launch, Kava will feature over 30 premium Nollywood titles, with fresh releases weekly, including Alakada Bad and Boujee, Owambe Thieves (starring Zubby Michael, Odunlade Adekola, and Solo Sobowale), What About Us (featuring Kuni Remie and Uzor Arukwe), and House Job with Erica Nlewedim. Beyond licensing, the co-CEOs are committed to original content. 

Onuzo notes, “The beauty of this platform is that it allows us to scale our ability to tell stories…in different identities, different languages, different versions.” While Nigeria and Nollywood are the starting point, Kava envisions programming in many African countries.

Funding the vision 

This ambition requires significant funding. Kava has secured initial investments from a “family and friends” round and financiers like Vested World and TLG Capital. While the specific amount wasn’t disclosed, product chief Adedamola told TechCabal the company will soon raise more funding for rapid expansion across Africa and into Europe, particularly the UK.

This optimism aligns with a recent surge of investment in Nollywood from Nigeria’s tech sector. Since 2023, African startup founders and VCs have been increasingly backing films directly, with firms like Voltron Capital reportedly achieving up to 3x returns on projects like The Black Book and Gangs of Lagos. Dedicated film financing marketplaces like TalentX Africa are also emerging.

Ladun Awobokun, Kava’s Head of Content Acquisition, encapsulates the platform’s expansive vision: “Kava will champion African music, movies, fashion, culture, and voices, creating a space where creators across Nigeria and the diaspora can shine.”

The global success of Afrobeats and African fashion offers a compelling precedent for Nollywood. Onuzo reiterated, “One of the things that the streaming era showed us was that our content is consumed all over the world… you find that our content travels well and people engage with it.” Kava aims to leverage this existing global interest. “And we believe that when we’re able to deliver content at scale to audiences that are not just us, they will understand and fall in love with the stories that we have,” Onuzo concluded. “They just don’t know it yet, but they will fall in love with us.

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The Nigerian Communications Commission (NCC) has directed tower companies to make urgent improvements in service quality or face regulatory penalties. The regulator set an August end deadline for these companies to address issues affecting internet quality, such as poor power supply, equipment failures, and a lack of sufficient technical support.

Aminu Maida, NCC Executive Vice Chairman, gave the directive on Thursday during a high-level meeting in Abuja, attended by major tower infrastructure providers, including IHS Towers, American Tower Corporation (ATC), Pan-African Towers, and other key stakeholders like the internet network providers. The session focused on identifying bottlenecks in infrastructure delivery and improving the performance of shared telecom assets, according to two industry stakeholders who attended the meeting and asked not to be named to speak freely.

NCC did not immediately respond to a request for comments.

Tower companies, commonly known as TowerCos, form the structural backbone of Nigeria’s telecommunications industry. They provide the physical infrastructure—cell towers, rooftop sites, and associated facilities—on which mobile network operators (MNOs) like MTN, Airtel, and Glo deploy their radio and data transmission equipment.

TowerCos are also responsible for ensuring a 24/7 electricity supply to these sites and securing them against theft and vandalism. Any failure at the tower level directly impacts the quality of voice and data services delivered by MNOs.

“When there’s no power, the radios shut down. If the power fluctuates, the radios restart, and that leads to dropped calls, frozen data sessions, and frustrated customers,” explained one industry insider. “So, while the Commission rightly holds MNOs accountable for service quality, tower providers must also be held to the same level of operational reliability.”

IHS Towers is the dominant tower infrastructure provider in Nigeria, managing between 16,000 and 19,000 sites, which accounts for roughly 62% of all co-located telecom infrastructure nationwide. American Tower Corporation (ATC) is the second-largest player, with about 8,270 towers, while Pan-African Towers—a smaller, indigenous firm—operates between 760 and 1,000 sites, although not all are currently active.

Given their market size and role in connectivity, the NCC’s directive places the burden squarely on these companies to resolve issues of downtime, delayed maintenance, and poor power management that have plagued the network in recent months.

Until 2024, the NCC’s Quality of Service (QoS) Regulations focused mainly on mobile network operators. However, in August 2024, the Commission revised the framework to include the entire connectivity value chain, including TowerCos. The updated regulations, which have since been gazetted, introduced new key performance indicators (KPIs) that infrastructure providers are now obligated to meet.

“It’s been eleven months since those new regulations came into effect,” Maida said during the meeting. “That’s more than enough time for all parties to align with the performance standards expected of them.”

The NCC is implementing a transparency-focused enforcement strategy, a source familiar with the matter said. As part of this approach, the Commission recently launched the Major Incident Reporting Portal, mandating all service providers to publicly disclose significant network disruptions. 

The regulator is also developing a set of performance dashboards to be hosted on its website, allowing consumers to track how well tower and mobile network operators are adhering to their Key Performance Indicators (KPIs).

While some tower companies have attributed their failure to meet Service Level Agreements (SLAs) to delayed payments from mobile network operators, claiming that cash flow constraints limit their ability to maintain sites or invest in backup power systems, the NCC is no longer accepting these explanations.

During the Abuja meeting, Maida made it clear that financial disputes are not a valid excuse for poor service delivery. “Operators must fulfill both their technical and financial responsibilities,” he said, stressing that performance expectations remain non-negotiable regardless of internal challenges.

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Moove, the Uber-backed Nigerian startup that finances vehicles for ride-hailing companies, is seeking to raise $300 million in a fresh funding round that could push its valuation past $1 billion, according to The Information.

The planned raise comes at a time of rapid expansion for Moove. Last year, the company announced a partnership with Waymo, Alphabet’s self-driving vehicle division, to manage and operate fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida. Moove’s responsibilities include cleaning, charging, and storing Waymo’s electric robotaxis, as the self-driving service rolls out commercial operations in new U.S. markets.

Moove has raised $750 million in debt and equity to date, with backers including Uber and Mubadala Investment Company. In 2024, Moove raised $100 million, at a valuation of $750 million, from investors including Uber—which has a stake of more than 10% in the company—and Mubadala Investment Co.

Moove’s growth trajectory has also been fueled by strategic acquisitions. In January, the company acquired Kovi, a Brazilian urban mobility provider that finances ride-hailing drivers, which significantly boosted Moove’s revenue. The company’s annualized revenue has reportedly climbed to $360 million, up from $115 million just over a year ago, largely driven by its core business of extending loans to Uber drivers and its growing fleet management operations in the U.S. The new revenue pace suggests Moove is generating $30 million a month in revenue.

Founded by Ladi Delano and Jide Odunsi, the mobility fintech buys cars with bank loans and offers them to Uber drivers through a drive-to-own model. Drivers in Africa, India, and the UK pay for the cars out of their earnings and can eventually own them. Moove also recently expanded into robotaxi management, handling cleaning, charging, and storage when the cars aren’t in use. The company employs over 2,100 people worldwide and has recently hired at least 90 staff in the U.S. to support its expanding operations.

This latest funding effort underscores Moove’s ambition to become a key player in the autonomous mobility ecosystem, not only as a fleet operator for Waymo but also by potentially leasing mini-fleets of robotaxis to entrepreneurs and businesses in the future.

Moove’s current agreement with Waymo is confined to fleet management, according to co-founder Ladi Delano. The company is eyeing a broader role in the autonomous vehicle ecosystem, with plans to purchase AV-enabled cars directly from manufacturers and lease mini-fleets of robotaxis to individuals—potentially former ride-hailing drivers—or businesses looking to operate at scale. Moove would continue to oversee depot operations, handling charging, storage, and cleaning for the vehicles.

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