- Mahindra Group chairman Anand Mahindra has invested $1 million in Hapramp, a social media startup based on a blockchain.
Mahindra Group chairman Anand Mahindra has invested $1 million in Hapramp, a social media startup based on a blockchain.
As part of its product offering, the startup said Wednesday, Gurugram-based Hapramp will use the seed funding to work on major social media challenges such as user privacy, data security, and fair content monetization.
“Took 2 years, but I finally found the startup I’ve been looking for! @Hapramp is indigenous, built by 5 young founders & combines the best-in-class combination of creativity, technology, and data protection, “tweeted Mahindra today.
Anand Mahindra had announced on Twitter in 2018 that he was looking to back up an Indian social media startup that fulfills certain criteria.
Took 2 yrs, but I finally found the start-up I was looking for! @Hapramp is indigenous, built by 5 young founders & brings together a best-in-class combination of creativity, technology & data protection. Look out for @gosocial_app their social networking platform. @j_bindra https://t.co/9mFwzjQXjF
— anand mahindra (@anandmahindra) June 10, 2020
Founded in 2018 by a team of five graduates in Computer Science, Hapramp develops solutions that allow people to take control of their data and earn a fair fraction of their monetary value. The startup was incubated by Huddle, a leading sector-agnostic incubator in its early days.
“We are extremely excited and proud to be backed by Mr. Anand Mahindra as the next-gen Indian social network startup. This is a massive endorsement of our mission to give creators the right to its content. The fact that this comes from him, someone we respect and who has always been helping creators, gives us confidence, “said Hapramp CEO and co-founder Shubhendra Vikram.
He further added “From our initial days we received immense support from Huddle Incubator and they helped and guided us in our business strategies, and that led to building up a social network startup. We have big plans, and we intend to stick to our belief of empowering creators and building an ecosystem where they can learn, compete, and win rewards.
Hapramp sees itself as a laboratory of ideas working on the ideas which emerge from the confluence of the creative industry and knowledge economy.
“Since inception, the Hapramp team has worked with speed, frugality, and a larger vision of enhancing lives, through the simplicity of an app that holds a true value of rewards on the go, with a large notion of educating and entertaining their users. Working with them, as an incubator, and investing in their growth, was one of the easiest decisions for us,” said Sanil Sachar, founding partner, Huddle, when asked about the startup.
Hapramp is working on 1Ramp.io, a rewarding social media platform powered by Steem Blockchain, in addition to its flagship social networking solution GoSocial; and Asteria Protocol, a new standard for platforms to privately and securely process public data. In the coming year, Hapramp expects to bring them onto the market.