iROKOtv, the ‘Netflix of Africa’ raises an extra $8 million

irokotv_nollywoodiROKOtv, the African-based movie platform for Nigerian movies, known colloquially as ‘Nollywood’, has raised a funding round of $8 million, led by existing investor Tiger Global, with further participation from Sweden-based Kinnevik and US-based Rise Capital.

This brings the total raised to $21 million, arguably making iROKOtv one of the most well-funded internet companies in Africa today. The company is a Video-on-Demand (VOD) platform for African content and it will use this investment to focus on growing traffic, content curation and building a platform-agnostic distribution system for its one million monthly users. Continue reading