Indian technology start-up Myraah has raised $350,000 to build its Web3 platform. The funds were raised in a pre-seed funding round led by the angel investor firm Xceedance Venture Partners.
Myraah is a technology startup that uses Artificial Intelligence (AI) to help SMEs, MSMEs, small businesses, and professional practitioners create a digital identity in English and several Indian languages.
The startup announced in a release that the funds will help them build their Web 3 platform, which would allow users to create their Web3 digital identity and manage their digital assets such as files, pictures, music, videos, notes, documents, NFTs, domains, and websites.
The firm also announced in a statement that Arun Balakrishnan, CEO, and co-founder of Gurgaon-based angel investor Xcelerator Venture Partners, and other angel investors participated in the round.
Web3 refers to the next step in the evolution of the internet. It is serverless, open, and built around users’ privacy and ownership.
Speaking about his investment in Myraah, Arun Balakrishnan said, “I have always taken a keen interest in start-ups working with transformational technology. I believe Myraah’s Web3 platform has the potential to alter the internet space in India by giving users control over their content.”
Gaurav Kumar, co-founder, and CEO of Myraah said, “We thank our investors for showing confidence in our platform. The advent of Web3 will usher a new era for over six hundred million internet users in India and we hope to onboard 500K early adopters in the first year.”
Myraah also announced in the release that currently their platform will offer a Web 3.0 Locker which would be private and secure storage for user’s files, pictures, videos, and NFTs, and a Web 3.0 Website Builder, a tool that would enable anyone to create a Web 3 website without the need of coding and any other IT skills.
