Back to the complete issue
Monday, 27 September 2021

Blockchain startup Pravica raises funding from Swiss VC

Egyptian blockchain startup Pravica has received an undisclosed direct investment from Crypto Valley Venture Capital (CV VC), the company announced in a statement yesterday.

About Pravica: Founded in 2019, Pravica offers a suite of secure communication software based on a decentralized blockchain network to ensure its users’ data privacy and security.

This is the company’s first investment since April 2020, when it raised USD 500k in a pre-seed round led by 500 Startups, with participation from Modus Capital and Dyres Ventures.

The company plans to use fresh injection to expand its operations and increase users of its secure messaging app: It aims to have at least 5k businesses and 500k individual users by the end of FY2022.

About CV VC: CV VC is Swiss VC firm and incubator that targets startups in the blockchain and crypto spaces.

Want to understand the basics of blockchain? Check out our explainer here.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.