Mahindra Group Chairman Anand Mahindra has invested $ 1 million in an Indian startup. Mahindra’s focus is on Delhi – based Gurugram-based startup Hapramp.
The Hapramp was started in 2018 by five students from IIT Vadodara – Subhendra Vikram, Pratyush Singh, Rajat Dangi and Mofid Ansari.
Their main products are in the field of blockchain and social media. Anand Mahindra was attracted to GoSocial, a social media app developed by them.
The investment is linked to the Cambridge Analytica-Facebook scandal that rocked the social media world two years ago.
A company called Cambridge Analytics leaked the information of Facebook users and used it to create a favourable environment for Trump in the US election.
At the time, Anand Mahindra had said in a tweet that it was interested in investing in an Indian social media startup. The tweet said that having social media of our own is a good idea and would like to invest in the best start-ups that come up with such an idea.
Jaspreet Bindra, the then Chief Digital Officer of the Mahindra Group, was commissioned by Anand Mahindra to find such a startup.
After two years of searching, he tweeted that he had found a startup like he thought it would be.
GoSocial is a Web3 social network. The GoSocial platform is built using emerging technologies, including blockchain.
It’s a good business model that rewards content creators. Members’ personal information is secure. After all, it is made entirely in India.