Pravica raises $500,000 pre-seed
Cairo-based Pravica, (previously known as Dmails), has raised US$500,00 in a pre-seed round, led by 500 Startups, with the participation of Modus Capital and DYRES Venture.
Founded in April 2019, Pravica is a blockchain-based startup that offers a decentralised email service. The company will use the investment to build its customer base, expand its team and develop additional private communication tools to further enhance its product.
“As the first Blockchain Email Service Provider in the Mena, at Pravica, our strategy is to guarantee the user, full data privacy. Developing a decentralised network on Blockchain was my passion and I have been able to successfully make that dream come true. Today, Blockstack (Software for a user-owned Internet) has enabled us to rapidly expand our client base in a very short period of time and helped us scale to the next level with a solid and scalable Blockchain-based infrastructure. With the new funding, we hope to further expand our offering with several value-added options and grow our footprint.” said Mohamed Hussein Abdou, founder and CEO of Pravica.
“Running email systems on blockchain technology like that of Dmails (Pravica) is becoming increasingly imperative to ensure data privacy and security. As Mohamed and his team, work to deepen their platform capabilities, we look forward to supporting them as they cement their position as leaders in this Blockchain space,” said Sharif El-Badawi, managing partner at 500 Startups Mena.