iROKOtv, a Lagos-based VOD platform for Nigerian movies, raised $8m in funding.
The round, which brought the total raised to $21m, was led by existing investor Tiger Global with participation from Kinnevik and new investor Rise Capital.
The company intends to use the funds to increase the audience, transition from an ad supported model to a subscription service, monetize its catalog through the SVOD service (iROKOtv PLUS) as well as through strategic distribution partnerships with global airlines and TV channels.
Led by CEO Jason Njoku and COO Bastian Gotter, iROKOtv is a Video-on-Demand (VOD) platform for African content with an online catalog of over 5,000 movies. The company also has offices in London, New York, Johannesburg.