Pravica Raises US$500,000 Pre-seed with Participation of Modus Capital

Mohamed Salama

published Apr 30, 2020

Today we’re excited to make it official that Cairo-based Pravica, a WEB 3.0 Email Service Provider (ESP) using Blockchain technology has closed its pre-seed round of US$500,000.

The round was led by 500 Startups, with the participation from Modus Capital and DYRES Ventures.

Founded in April 2019, Pravica is a blockchain-based startup that offers a decentralized email service. The company will use the investment to build its customer base, expand its team, and develop additional private communication tools to further enhance its product.

“As the first Blockchain Email Service Provider in MENA, 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”. said Mohamed Hussein Abdou, founder, and CEO of Pravica. Using Blockstack, a Software for a user-owned Internet, Pravica was able to rapidly expand their client base in a very short period of time. “With the new funding, we hope to further expand our offering with several value-added options and grow our footprint,” Mohamed added.

Kareem Elsirafy, managing partner at Modus Capital said: “We are excited to have Pravica as part of our portfolio. Their platform provides a new type of value-add to corporates that is both unprecedented and in notable demand. Its new functionality in addition to security measures gives enterprises a much higher level of control over their data, something they constantly struggle with. The team has produced incredible results thus far and we are confident they will continue on this upward trajectory in the coming years.”

Pravica is one of the most prominent players in the Blockstack Eco-system in Egypt and the MENA Region. It provides a unified communication suite, which meets the WEB 3.0 standards and utilizes Blockchain technology to empower user’s privacy and security. All data registered via Pravica infrastructure is hosted on a decentralized network, making it hard to sell your data to any third party.