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Lagos-based browser game Lagos Life closes $500,000 angel round
Vatar raises funds from the CEOs of Mono, Terra Industries and Flutterwave at a $10 million valuation
Why it matters
Vatar, the Lagos company behind the viral browser game Lagos Life, announced on October 9 that it has closed a $500,000 angel round to develop its platform and bring additional cities into its online worlds.
Key points
The three angel investors are all heavyweights in Nigeria's tech scene: Abdulhamid "AB" Hassan, CEO of Mono; Nathan Nwachuku, CEO of Terra Industries; and Olugbenga "GB" Agboola, CEO of Flutterwave. TechCabal reports the round values Vatar at $10 million and closed in a single day.
Lagos Life is a free multiplayer browser game set in a virtual world inspired by Lagos, where players take jobs, rent homes, use transport and even take part in player elections. The company says more than 4.5 million people have played the game, with over 1.5 million players on an average day (company-reported figures).
The company identifies its co-founders as Shalom Rayhamen (CEO/CTO), Owen Rayhamen (chief product officer) and Anderson Oriahi (chief business development officer).
Sources: Okay News, TechCabal (via UrbanGeekz).
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