Formerly known as DMails, the Cairo-based blockchain startup, founded by cryptography expert Mohamed Abdou, will accelerate its operations thanks to the investment led by 500 Startups.
Formerly known as Dmails, Egyptian blockchain-powered email service Pravica has received a $500,000 injection in an investment round led by 500 Startups, with participation from Modus Capital and Dryes Ventures.
A web 3.0 email service, Pravica is one of the frontrunners in the blockchain field in the MENA region and is the first Middle Eastern email service provider to use blockchain technology to secure communication. Founded in April 2019 as Dmails, Pravica addresses an important pain point: emails are the most widely used method of private communication, but lack data security. It’s no surprise then, that it’s already a favourite among blockchain experts and those in the know as it decentralises data on user identity.
“At Pravica, our strategy is to guarantee the user, full data privacy. Developing a decentralized 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,” says founder Mohamed Hussein Abdou.
“We are excited to have invested in Pravica, which has great potential for growth. 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,” says Sharif El-Badawi, Managing Partner at 500 Startups MENA.
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