Anand Mahindra invests $1mn in Hapramp Studio

Hapramp Studio will use the proceeds to work on big social media challenges such as user privacy, data security, and fair content monetisation as part of its product offering.

Mahindra Group chairperson Anand Mahindra invested $1 million in Hapramp Studio, a blockchain based social media start-up.

The Gurugram based start-up will use the proceeds to work on big social media challenges such as user privacy, data security, and fair content monetisation as part of its product offering.

“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," Mahindra tweeted.

In 2018, Mahindra had announced on Twitter that he was looking to back an Indian social media start-up that meets certain criteria. At that time, he also roped in former Mahindra Group Executive Jaspreet Bindra to work on finding a next-gen Indian social network start-up.

"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.