EGYPT – Pravica, a B2B communication startup based in Cairo, has secured an undisclosed direct investment from Crypto Valley Venture Capital (CV VC), the leading Swiss venture capital firm and incubator specialising in global blockchain business investment.
The latest investment from CV VC will be used to expand Pravica’s messaging app to more users, with a goal to bring onboard 5000+ enterprises with approximately 500,000 users combined by the end of FY 2022.
CV VC announced its investment in Pravica ahead of the first cohort demo day of Stacks Accelerator, the incubator supporting global tech startups building business with the Stacks Blockchain, in New York.
CV VC’s investment focus is on global teams who build applications at the intersection of ‘Technology for Tomorrow’ (T4T) and six industry verticals, one of which is Security & Identity. For Pravica, they believe in privacy as a human right and seek to further the decentralisation of systems to improve efficiency and security and boost confidence in the ecosystem.
Founded in 2019 by Mohamed Hussein Abdou, Pravica’s business model involves using blockchain technology to provide better online security in the communication industry, specifically messaging apps, where regular data breaches cause colossal problems for businesses and individuals alike.
“We are reinventing digital communication protocols by utilising Stacks Blockchain and its smart contracts to engineer a tamper-proof decentralised identity that is secured by the Bitcoin network and a fully decentralised storage system,” said Mohamed Abdou, Pravica Founder & CEO.
Pravica is a revolutionary communication tool, specifically messaging apps for enterprises, where the most popular communication apps throughout the world record data breaches.
Pravica plans to onboard over 5,000 businesses by the end of FY 2022, with an average of 500,000 customers. The app is built on Blockchain and protected by a blockchain design that gives unrivaled privacy and security, revolutionizing the encrypted communication market.
With this latest investment, Pravica is now in a strong position to scale up its operations and to continue
The Pravica app is built on Blockchain, secured by Bitcoin design, providing unparalleled privacy and security thereby changing the encrypted communication industry.
Pravica believes that privacy is a human right and that the decentralisation of systems will improve efficiency, security and boost confidence in the ecosystem. Pravica will revolutionise the way we live and interact with each other.
