iNDICA NEWS BUREAU
Noted Indian entrepreneur Anand Mahindra has said that he has invested $1 million in Hapramp, a startup working on technologies with as wide a range as blockchain and social media.
Five students of the Indian Institute of Information Technology, Vadodara, had started the Gurugram (previously known Gurgaon) based startup in 2018, the same year the Mahindra Group chairman had announced via Twitter that he wanted to fund an Indian social media startup that met certain criteria.
“Took 2 years, 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,” Mahindra tweeted Wednesday.
The Hapramp team has just 12 members.
Jaspreet Bindra, a former Mahindra executive whom Mahindra had asked to help in his search for a startup to invest in, told The Economic Time: “The Hapramp team is building a Web 3.0 social network. It is built on emerging digital technologies, has a solid business model which rewards content creators, protects personal data, and best of all, is built here locally in India.”
According to the newspaper, Bindra has been signed on as executive adviser and mentor to the founding team of Hapramp. Hapramp has been incubated through its early days by Huddle, a sector-agnostic incubator that is based in Gurugram. It has also invested in Hapramp.
“We are honored and excited,” Hapramp co-founder and CEO Shubhendra Vikram told The Economic Times. “This is a massive approval of our mission to give creators the right to their content. We plan to use the funds to expand our platform and want to empower creators.”