Myraah Raises $350,000 In Pre-Seed Funding

Funds will be utilized to help Myraah build a Web3.0 platform that allows anyone to create their Web3 digital identity and manage their digital assets such as files, pictures, music, videos, notes, documents, NFTs, domains and websites

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Myraah on Tuesday announced to have raised $350,000 as pre-seed funding led by Arun Balakrishnan's Xcelerator Venture Partners and other angel investors. Funds will be utilized to help Myraah build a Web3 platform that allows anyone to create their Web3 digital identity and manage their digital assets such as files, pictures, music, videos, notes, documents, NFTs, domains and websites.

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"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 500,000 early adopters in the first year," said Gaurav Kumar, co-founder and CEO, Myraah.

Web3 is a new Internet architecture, which is serverless, open and built around users' privacy and ownership. Myraah's Web3 platform will allow netizens to establish ownership of content they create on the internet as well as monetize them. The company is already engaged with their 70,000-plus user base to experience the Web3 platform. The company plans to onboard five hundred thousand users within this year to subscribe to their Web3 products and services, according to a statement given by the company.

"I have always taken keen interest in startups 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," said Arun Balakrishnan, CEO, Xceedance.

Myraah is a technology company that uses Artificial Intelligence to help SMEs, MSMEs, small business and professional practitioners create a digital identity in English and several Indian languages. Myraah is driving digital inclusion by helping small businesses in tier two cities and smaller towns modernize and have an impactful digital presence to better reach their customers in the local communities. Myraah will offer the following Web3 products and services - Web3 Locker: a private and secure storage to store your files, pictures, videos and NFTs; Web3 Thoughts: a private place to store your ideas, thoughts or secrets away from bots, AI or humans; Web3 Website Builder: No Code tool enables anyone to create a Web3 website in just a few clicks, without requiring any IT skills.