Praxis – a startup that is aiming to build a new city organized around the computer revolution that allows many to work from wherever they wish – raised $15 million in a Series A funding round that included investments from Paradigm Capital, FTX Trading CEO Sam Bankman-Fried's Alameda Research and Three Arrows Capital
- "We are actively engaging with landowners and governments, designing economic and political systems, architecting buildings and infrastructure and bringing together the people who will inhabit them," Praxis said in a statement.
- It's still early in the process, the company added, and the fresh capital will help it hire more staff for its real estate, governance and engineering teams.
- Other investors in the funding round included Apollo Projects and Robot Ventures.
- Praxis raised $4.2 million in a seed funding round late last year, with Balaji Srinivasan, a former chief technology officer at crypto exchange Coinbase, and Winklevoss Capital among the investors.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.