Cairo-based blockchain startup, Pravica has announced that it secured an undisclosed direct investment to scale up its operations and continue to expand its messaging app to users.
The investment round was led by the Swiss venture capital firm and incubator Crypto Valley Venture Capital (CV VC), which is a leading blockchain venture capitalist and incubator of global tech disruptors who are driving the fourth industrial revolution.
Commenting on the investment and Pravica’s growth plan, Olaf Hannemann, co-founder & CIO of CV VC said, “We are excited by the vision Pravica has developed towards taking a new approach to a highly practical communication suite with ultimate privacy and security standards, enabled by Blockchain technology.”
Ahead of Stacks Accelerator first cohort demo day, of which Pravica was one of twenty-five selected startups, CV VC announced its investment in the stellar tech startup.
With this latest investment, Pravica is now in a strong position to scale up its operations and to continue to expand its messaging app to users.
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Pravica is defying the odds of the communication industry and specifically messaging apps for enterprises, where enormous amounts of data breaches are recorded by some of the most popular communication apps worldwide.
“We are reinventing digital communication protocols by utilizing Stacks Blockchain and its smart contracts to engineering a tamper-proof decentralized identity that is secured by the Bitcoin network and a fully decentralized storage system,” said Mohamed Abdou, Pravica Founder & CEO.
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 decentralization of systems will improve efficiency, security and boost confidence in the ecosystem. Pravica will revolutionize the way we live and interact with each other.
What You Need To Know About Pravica
Founded in 2019 by Mohamed Abdou, Pravica aims to utilize blockchain technology to empower user privacy and security in the communication industry, specifically messaging apps, where enormous amounts of data breaches are recorded by some of the most popular communication apps worldwide.
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