Wicrypt - Afrikan Heroes

Wicrypt Wins $150k Global Prize, Passes 1k Hotspot Hubs

March 11, 2023

Wicrypt Network, the Nigerian based first standalone blockchain-based Wi-Fi sharing network from Africa, has won the Global Prize at the LEAP 2023 Rocket Fuel Pitch Startup Competition in Saudi Arabia, securing US$150,000 in prize money.

Founded in 2018, Wicrypt is a decentralised mobile internet sharing and monetisation network that allows anyone to get paid for sharing their Wi-Fi. Users download the Wicrypt app and provide Wi-Fi through their mobile device or by purchasing a unique, custom-built Wicrypt Hotspot Creator device.

Wicrypt CEO Aronu Ugochukwu — wicrypt ceo Ugochukwu Aronu

Wi-Fi providers can customise their customer experience through their Wicrypt dashboard by offering surveys, ads, and collecting customer data. Wicrypt-connected devices are all represented by unique NFTs that are linked to the blockchain. While Wicrypt hosts are paid by those accessing WiFi, Wicrypt also incentivises hosts through its native token, $WNT, for having high device up-time.

Disrupt Africa reported in November 2021 the startup closed a strategic US$1.5 million funding round to help it expand into new countries, since when it has established more than 1,000 hotspot hubs across the world. It has now secured further capital after winning the global prize.

“We started this company to solve a real internet access pain point for people in Africa and underrepresented regions,” said Ugochukwu Aronu, CEO and co-founder of Wicrypt. “It’s exciting to see that our technology is being awarded for making a difference in a practical way and not theoretically. Thank you to LEAP, Saudi Arabia, and the outstanding judges.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Based In Enugu, Nigeria, Blockchain WiFi Sharing Startup Wicrypt Raises $1.5m

November 9, 2021

Wicrypt Network, Africa’s first blockchain-based WiFi sharing network, announced today that it has raised $1.5 million in funding. Polygon creator Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, and PolkaFoundary are among the investors in the round.

“While we have formed substantial business partnerships in Africa, this funding allows us to grow into new countries 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, 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.”

Wicrypt Wifi Enugu blockchain — *Ugochukwu Aronu is the CEO of Wicrypt. Source: Kevin Leu*

Why The Investors Invested

“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,” said Sandeep Nailwal, Co-founder and COO of Polygon. “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.”

The investors are a few of the most well-known crypto/blockchain funds, having investments in some of the most ground-breaking blockchain initiatives.

A Look At What WiCrypt Does

Wicrypt made its debut in Africa in 2018 as the continent’s first peer-to-peer mobile internet sharing network. Before becoming profitable in 2020, the company was bootstrapped by its founder, Ugochukwu Aronu.

The startup makes it possible to share an Internet connection via a smartphone or a WiCrypto hotspot maker, a personalized gadget that allows for data collection on clients, thanks to its mobile application. The owners of connected devices must pay to receive access to the internet, which is represented by unique non-fungible tokens (NFTs) associated to the blockchain.

“Wicrypt provides the Internet to the people of the world who need it, while taking advantage of the blockchain by asking hosts to bet on WNT [the startup’s cryptocurrency, Editor’s note] to be part of the Wicrypt network,” said Aronu Ugochukwu , CEO of WiCrypt.

The startup, which claims the status of the leading peer-to-peer (P2P) mobile internet sharing network on the continent, has signed an exclusive partnership with the Nigerian city of Enugu, to give internet access to its residents.

As a reminder, internet connection is not available in many parts of the continent. According to the World Association of Telephone Operators (GSMA), the mobile internet penetration rate was 28% in sub-Saharan Africa in 2020.

Wicrypt Wifi Enugu blockchain Wicrypt Wifi Enugu blockchain

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
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