[Funding alert] Pune-based Myraah raises $350,000 in pre-seed round

Pune-based tech startup Myraah on Tuesday said it secured $350,000 as pre-seed funding. The startup plans to use the funds to build its Web 3.0 platform and manage the digital assets of users, including files, pictures, music, videos, notes, documents, NFTs, domains, and websites.

The pre-seed funding round was backed by Arun Balakrishnan, CEO, and Co-founder of Xceedance, and other angel investors, including Xcelerator Venture Partners.

Gaurav Kumar, Co-founder and CEO of Myraah, said, “We thank our investors for showing confidence in our platform. The advent of Web 3.0 will usher a new era for over 600 million internet users in India, and we hope to onboard 500,000 early adopters in the first year.”

Myraah is a Web 3.0 platform that functions as a digital vault allowing users to securely store documents, music, and videos. Besides, its Web 3 diary feature is available to users, enabling them to write down anything they wish, where all of the pages in the journal are private to the user. Only a cryptographically generated password will allow the user to share it with others.

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Arun Balakrishnan, CEO and Co-founder of Xceedance, said, “I have always taken a keen interest in startups working with transformational technology. I believe Myraah’s Web 3.0 platform has the potential to alter the internet space in India by giving users control over their content.”

Building applications in Indian languages, Myraah offers services in English, Hindi, Marathi, Bangla, Gujarati, Kannada, Tamil, Telegu, and Malayalam. The startup has collaborated with freelancers and web developers and intends to assist them with technology that would enhance their productivity.