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Praxis Raises $15M in Series A Funding Round

The startup is trying to build a city organized around remote work.

Updated May 11, 2023, 5:57 p.m. Published Mar 3, 2022, 11:32 p.m.

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.

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Venture Capital Funding Funding Rounds Paradigm Sam Bankman-Fried Three Arrows Capital Alameda Research

Stephen Alpher

Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.