Page 15 - bne_Tech_05_2019

Investment
May 2019 www.intellinews.com I Page 15
Armenia’s censor-defeating secure messaging app Pinngle announces $12mn of funding
Armenia-based private messaging app enterprise Pinngle has secured an investment of $12mn
to fund a company launch and international expansion.
Pinngle is notable in that it can function in places where similar calling apps are blocked, such
as in countries with heavy internet censorship, according to the entrepreneurs behind it. It has over 3mn users and supports free messaging, voice calls, and video chat.
Pinngle will use the funding to improve its user experience, strengthen service stability, as well as introduce new features and service integrations, according to a Reuters report carried by HitechWiki.
CEO Gegham Azatyan reportedly said: “With current trends in investment, it’s a considerably large amount of funding for a VoIP app. But it
MTS launches corporate fund to invest $15mn in startups
Mobile TeleSystems (MTS), one of Russia’s main mobile operators, has launched a corporate ven- ture fund targeting startups across Russia and neighboring countries. The fund expects to invest around 1bn rubles (approximately $15mn at the current exchange rate) in early-stage startups
serves to tell that our features and values do give us competitive potential.”
Pinngle is designed to overcome call blocking, a type of internet censorship that is frequently used to block messaging apps in regions such as the Middle East and Latin America. Pinngle is also one of the few messengers that can maintain stable call quality with slow internet connections, including 2G networks.
The app protects user data with end-to-end data encryption and a serverless architecture. Pinngle does not sell or store any user information, and claims that it never will.
Pinngle’s features include HD video chat and
a “callback” function for making offline calls.
In addition to its private chat capabilities, the app hosts Public Channels where content creators can share their messages with followers.
over the next two years, reports East-West Digital News (EWDN).
Last year the corporation launched an in-house accelerator, MTS StartUp Hub, but startups may receive funding from the new corporate fund inde-