Anand Mahindra has invested USD 1 million in Hapramp, a blockchain-based social media startup. Hapramp is a Gurugram based startup intending to utilize the seed funding so received to manage social media challenges such as user privacy, data security, and provide with appropriate content monetization as part of its product offering.
The chairman of Mahindra Group, Anand Mahindra tweeted “It took 2 years, but I finally found the start-up I was looking for! Hapramp, built by five bright minds and brings together the best blend of creativity, technology & data protection. Look out for GoSocial, their social networking platform,”. He also cited a tweet from 2018 where he had stated that it was time to have our own ethnic social networking company, in the wake of the Facebook-Cambridge Analytica scandal. He encouraged relevant Indian startups, and also said that if there are young teams with such startup plans, he is more than willing to support and provide seed capital.
Hapramp is an indigenous social media startup that was developed by five Computer Science graduates in 2018. They seek to provide users the control of their data and make earnings from its monetary value and also bring together a high-grade combination of creativity, technology, and data protection. They have a flagship social networking solution GoSocial, an app that rewards creators for posting and engaging with the community. It is accessible on Google Play Store and will soon be on Apple’s App Store as well. In the initial stage of development, it was incubated by Huddle, a startup hub that provides incubation and fundraising assistance.
Shubhendra Vikram, CEO and co-founder of Hapramp said, “We are extremely excited and proud to be the next-gen Indian social network startup financially supported and upheld by Mr. Anand Mahindra. This is a massive approval of our mission to provide creators the right to their content. The fact that this comes from him, someone whom we admire and who has always supported originators, gives us confidence.”
In addition to GoSocial, Hapramp is also working on 1Ramp.io, a rewarding social media platform powered by Steem Blockchain, and Asteria Protocol which is a new standard for platforms to privately and securely treat public data. Hapramp perceives itself as an idea generation lab working on the ideas that emerge from the conflux of the creative industry and information economy. The Hapramp team is developing a Web 3.0 social network. It is built on emerging digital technologies and has a definite business model that rewards content creators, protects personal data, and moreover is built locally in India.