Africa’s first blockchain-based WiFi sharing network, Wicrypt has secured $1.5 million in funding. The funding round was led by AU21 Capital, while Polygon’s founder Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, and PolkaFoundry participated. Initially, the company got bootstrapped by its founder before becoming profitable in 2020. The funding would be targeted at the startup’s marketing efforts for expansion into new countries.
“While we have formed substantial business partnerships in Africa, this funding allows us to grow into new countries. This is done by increasing our marketing efforts,” said Ugochukwu Aronu, CEO of Wicrypt. “Wicrypt is providing last-mile internet to people of the world who need it. They do so while leveraging the blockchain by having hosts stake $WNT to become a part of the Wicrypt Network. This ensures overall security of the network; and, that hosts do not perform malicious actions while providing internet connections to clients.”, said CEO and Founder Ugochukwu Aronu.

Sandeep Nailwal, Co-founder and COO of Polygon said: “Investing in an already-profitable company is rare in the blockchain space. But on top of that, Wicrypt is giving people the ability to access the internet in regions where WiFi can be very expensive and unattainable for many people.” “By empowering people to share their WiFi and make money, they are making this a win-win situation for all involved, particularly in remote regions where large internet companies are not incentivized to provide coverage.”
Objective of Wicrypt
Wicrypt, launched in 2018, is Africa’s first peer-to-peer mobile internet sharing network, which also runs without the need for third-party integration. The startup empowers everyone to share high-speed Internet access with their community for free or at whatever rates they choose to. Wicrypt also currently has an exclusive partnership with Enugu State to provide internet services to its citizens.
Wicrypt is a decentralized mobile internet sharing and monetization network where users WiFi networks are Powered by You and not by the traditional intermediaries that have always offered limited mobile data at extremely-high contract rates. WiFi is shared via Wicrypt’s custom, affordable Hotspot Creator or mobile devices; while providers can tailor unique experiences, including surveys and ads, while collecting customer data. Users can also mine Wicrypt Network Token (WNT) while sharing data. Hosts can enjoy the opportunity of earning WNT when clients connect to their network over some time.