Egyptian Blockchain messaging platform receives investment from Swiss CV VC

Egypt based Pravica, a Blockchain messaging platform which empowers user privacy and security,has received investment from Swiss based CV VC (Crypto Valley Venture Capital). Prior to this investment, Pravica had received half a million dollars from 500 Startups.

CV VC 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.

This investment comes ahead of Stacks Accelerator first cohort demo day. Pravica was one of twenty-five selected start-ups to be admited to the Stacks Accelerator.

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, Pravica aims to onboard 5000+ enterprises with an average of 500,000 users combined.

“We are reinventing digital communication protocols by utilizing Stacks Blockchain and its smart contracts to engineer 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.