Anand Mahindra the Chairman of the Mahindra Group, has invested $1 million (about Rs 7.5 crore) in acGurugram-based technology start-up Hapramp. Hapramp is currently working on technologies like blockchain and social media.
Hapramp was founded by five students of the Indian Institute of Information Technology-Vadodara in 2018, during the final year of their graduation.
The Cambridge Analytica-Facebook scandal happened two years ago. It shook the social network and digital world and at that time Anand Mahindra expressed his wish to help companies combating such concerns on Twitter and the task to search for such type of startup was given to Jaspreet Bindra, ex-Chief Digital Officer of Mahindra. At present Jaspreet is the Executive Advisor and a mentor to the startup. Now, after two years Mahindra has shortlisted Hapramp.
“The startup is building an internet 3.0 social network. It is based on emerging digital technologies, features a solid business model which rewards content creators, protects personal data, and better of all, is made here locally in India,” Bindra said.
Hapramp operates social networking solution GoSocial along with a social media platform 1Ramp.io that is powered by Steem Blockchain.
Anand Mahindra – It further operates Asteria Protocol that will help platforms to privately and securely treat public data.
“We are honored and excited. This is a huge approval of our mission to offer creators the proper to their content. We decide to use the funds to expand our platform and need to empower creators,” Hapramp co-founder and Chief military officer Shubhendra Vikram told.
At present, the startup employs 12 employees with Gurugram based founders, and staff located across the country.
“We will still operate a lean team but we are looking after for hiring. By the end of the year, we should be at 25-30 people,” Vikram said.
Moreover, the startup also aims to expand its work in the European market in the future.