Pravica Blockchain Platform Increases Crypto Valley VC Investment

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• 26 September, 2021

Cairo-based blockchain startup Pravica has raised an undisclosed direct investment from US-based venture capital firm and incubator Crypto Valley Venture Capital (CV VC).

Founded in 2019 by Mohamed Abdou, Pravica aims to utilise 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.

CV VC is a blockchain venture capitalist and incubator supporting global tech startups that aim to revolutionise the industry.

Pravica plans to scale up its operations and continue to expand its messaging app to users through the new investment. By the end of FY 2022, Pravica aims to onboard 5000+ enterprises with an average of 500,000 users combined.

Press release:

Pravica, a revolutionary communication platform using Blockchain technology to empower user privacy and security, today announced a direct investment from CV VC (Crypto Valley Venture Capital).

CV VC 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.

By the end of FY 2022, Pravica aims to onboard 5000+ enterprises with an average of 500,000 users combined.

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.

Its investment focus is on global teams who build applications at the intersection of what it terms ‘Technology for Tomorrow’ (T4T) and six industry verticals, one of which is Security & Identity.

CV VC invests in teams that are revolutionising the industry with blockchain.

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