Pravica, a communication platform using Blockchain technology to empower user privacy and security, today announced a direct investment from Crypto Valley Venture Capital.
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. By the end of FY 2022, the startup aims to onboard 5000+ enterprises with an average of 500,000 users combined.
Crypto Valley Venture Capital 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.”
CV VC invests in teams that are revolutionizing the industry with blockchain. 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.
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.
