Pravica, a communication platform using Blockchain technology to empower user privacy and security, announced a direct investment from Crypto Valley Venture Capital. CV VC is a blockchain venture capitalist and incubator of global tech disruptors 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 convenient communication suite with ultimate privacy and security standards, enabled by Blockchain technology.”
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With this latest investment, Pravica is now in a strong position to scale up its operations and 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.
CV VC invests in teams that are revolutionising the industry with blockchain. Its investment focus is on global teams who build applications at the intersection of technology for tomorrow (T4T) and six industry verticals, one of which is security and identity.
The announcement that CV VC has invested in Pravica underpins this investment thesis.
Pravica is defying the odds of the communication industry and specifically messaging apps for enterprises, where enormous amounts of data breaches are recorded by some of the most popular communication apps worldwide.
“We are reinventing digital communication protocols by utilising Stacks Blockchain and its smart contracts to engineer a tamper-proof decentralised identity that is secured by the Bitcoin network and a fully decentralised storage system,” said Mohamed Abdou, Pravica Founder & CEO.
The Pravica app is built on blockchain, secured by Bitcoin design, providing unparalleled privacy and security, changing the encrypted communication industry.
