Egyptian Pravica raises $500K from 500 Startups

ⓘ Featured Image: Mohamed Hussein Abdou, founder & CEO of Pravica; Credits: Waya Media

LAFFAZ Media

Cairo, Egypt-based Pravica (Formerly Dmails) has today raised $500,000 in a Pre-Seed round led by 500 Startups with participation from Modus Capital and DYRES Venture.

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The company in a statement earlier today shared that the funds will be deployed towards building Pravica’s customer base, expanding the team, and developing private communication tools.

The company was founded in April last year by Mohamed Hussein Abdou, as a blockchain startup to offer decentralised email service.

Commenting over the investment round, Abdou, the founder & CEO of Pravica said,

“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.”

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.”

Editorial Staff
Editorial Staff

The Editorial Staff at LAFFAZ encompasses fandoms of startup culture, crazy researchers, data analysts and writers who decrypt strenuous information into graspable news, produce noteworthy features and compelling stories.

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