Pravica, an Egyptian blockchain email startup, has raised $500,000 in a pre-Seed round led by 500 Startups with participation from Modus Capital and DYRES Venture.
Pravica, formerly known as Dmails said in a statement that the funds will be deployed towards building its customer base, expanding the team, and developing private communication tools.
Founded in April last year by Mohamed Hussein Abdou, Pravica is a blockchain startup that offers decentralised email service.
Commenting on the investment round, Abdou said: “As the first Blockchain Email Service Provider in the Mena, 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.”
Affirming the idea of Pravica as a blockchain-based email service, Sharif El-Badawi, managing partner at 500 Startups Mena said, “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,”
Creating a complete ground of Pravica and its vision, Abdou said, “At Pravica, our strategy is to guarantee full data privacy for the user.
“Developing a decentralized network on Blockchain was my passion and I have been able to successfully make that dream come true.
“Today, Blockstack 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.”
