Egypt-based blockchain communication startup Pravica lands investment from CV VC

September 25, 2021 Editor Blockchain 0

Cairo-based Blockchain-technology B2B communication startup Pravica has received a direct investment from Crypto Valley Venture Capital (CV VC) a blockchain-focused VC firm. Pravica leverages its blockchain technology to empower user privacy and security when communicating.

In the press release, Olaf Hannemann, CIO and co-founder at CV VC expressed happiness in Pravica’s “new approach to a highly practical communication suite with ultimate privacy and security standards, enabled by Blockchain technology.”

Mohamed Abdou, Pravica CEO said that the company is “reinventing digital communication protocols by utilizing Stacks Blockchain and its smart contracts” with the intent to “engineer a tamper-proof decentralized identity” secured on Bitcoin’s network as a fully decentralized storage system.

The investment came ahead of the first cohort demo day by Stacks Accelerator where Pravica was one of 25 shortlisted startups. Pravica remains in a strong position to scale its operations and continuously expand its messaging app to all users.

Pravica is a revolutionary communication tool specifically messaging apps for enterprises where data breaches are recorded by the most popular communication apps worldwide. End of FY 2022, Pravica is looking to onboard over 5,000 enterprises with an average of 500,000 combined users. The app is built on Blockchain, secured by blockchain design which provides unparalleled privacy and security changing the encrypted communication industry.

CV VC invests in revolutionary blockchain technology. It focuses on global teams building applications at the intersection of what it terms as ‘Technology for Tomorrow’ (T4T) across six industry verticals including Security & Identity.