Among the abounding numbers of budding startup projects in India, Anand Mahindra has finally decided on the one which he sees as a perfect fit for his large investment sum.
After a long search of two years, the chairman of Mahindra Group has handpicked a Gurugram based startup company named Hapramp Studios for investing a sum of Rs. 7.5 Crore ($1 million).
The startup was founded in 2018 by five students of the Indian Institute of Information Technology (IIIT)- Vadodara. It is working on blockchain and social media.
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
Mr. Mahindra had been seeking an Indian social networking company that could be trusted with professionalism and creativity, and hence could be a possible replacement to the established foreign social networking giants in the long run.
He had asked ex-Mahindra executive, Jaspreet Bindra to work with him to find a next-gen Indian social network startup.
His tech-quest ended at the GoSocial application created by the Hapramp Studios.
“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.
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GoSocial- For Creators
GoSocial is an engaging platform where users can sign up and take on various challenges based on writing, photography, art and, stand a chance to get rewarded too.
“The current focus is on building userbase and monetization will happen eventually. The app is available on Google Play Store and will soon be available on Apple App Store as well,” Hapramp co-founder and CEO Shubhendra Vikramadded told Press Trust of India.
“We are targeting one lakh users in the next three months and 10 lakh by the end of the year in India. We also plan to take the platform to Southeast Asian countries, we will look at that around October,” he added.
More About The Startup
Another Gurugram based incubator, Huddle, has also invested in Hapramp.
In addition to its flagship social networking application GoSocial, Hapramp also operates 1Ramp.io, a social media platform powered by Steem Blockchain, and Asteria Protocol.
Mahindra’s approach of backing up an indigenous startup with such a hefty amount shows his vision of strengthening national businesses.
Image Credits: Google Images, Hapramp Studios
Sources: Economic Times, The New Indian Express
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This post is tagged under: Asteria Protocol, Steem Blockchain, 1Ramp.io, social media platform, Hapramp, GoSocial, app, Mahindra, invest, investment, 1 millions dollars, funding, fund startup, tech startup, Anand Mahindra, investor, Gurugram based incubator, Huddle, CEO Shubhendra Vikramadded
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