It’s great news for Pravica, a Cairo-based company. The company was able to walk away with $500,000 in a pre-seed fund that was led by 500 startups. Among the participants are Modus Capital and DYRES Venture.
A little about Pravica – Pravica is a promising tech-oriented startup focused on the blockchain tech business. Pravica is a company that offers decentralized email services to its clients and was established in 2019, April, to be precise.
According to Pravica, the pre-seed fundraised goes into building its customer-base, developing other private communication tools to improve its products and expand its team.
According to Pravica’s CEO, Mohamed Hussein Abdou, and I quote, “As the first Blockchain Email Service Provider operating in Mena, we want to set the business apart. Our selling point is guaranteeing users of our product, full data privacy. It was my passion to build a decentralized network on Blockchain. And I am happy the dream has come true. Today, Blockstack, a software designed for a user-woned internet, has allowed us to expand our customer base rapidly. It happened in a short time and empowered us to scale to the next level with a robust and scalable Blockchain-based tech infrastructure. However, with the new funds received, we firmly believe we can expand our offerings by including other value-added options and grow our footprint.”
In a statement, the managing partner at 500 Startups Mena, Sharif El Badawi, said, and I quote, “Running email systems on a blockchain tech like what we have seen Pravica (formerly Dmails) do is becoming more and more imperative to ensure data privacy, including security. As Mohammed and his team put more effort to deepen their platform’s capabilities, we are looking forward to offering our support as they cement their position as a leader in the Blockchain space.