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Mahindra Group Chairman Anand Mahindra has invested $1 million in Gurgaon-based social media start-up Hapramp, which works on issues such social media challenges such user privacy, data security and fair content monetisation.
The blockchain-based start-up was founded in 2018.
In 2018, Mahindra announced on Twitter a funding opportunity for an Indian social media start-up that met certain criteria. He had asked digital transformation expert and ex-Mahindra executive Jaspreet Bindra to find a next-gen Indian social network start-up, which would reward creators, protect personal data and be built on next generation technologies like Blockchain.
“Took 2 Years but I finally found the start-up I was looking for,” Mahindra said in his tweet on Wednesday. “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,” Bindra said.
Jaspreet has signed on as executive advisor and mentor to the Hapramp founding team.
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