Praxis is an internet-first, network-state startup led by Dryden Brown and co-founder Charlie Callinan that seeks to turn an online community into a physical city. Its core offering is designing and building a purpose-built city prototype (Brown references Elon Musk’s preferred name “Terminus”) by courting governments and negotiating location-specific deals. Brown has spent years traveling and meeting politicians and local actors—most recently visiting Greenland, meeting officials, mining executives and entrepreneurs—to explore sites and terms. Praxis envisions deploying technologies such as Rainmaker cloud-seeding and nuclear power from Valar Atomics in its proposed settlements. The group recently hosted 250 supporters in Punta Cana to present location options and advance planning. Financially, Praxis has secured $525 million in funding that it can draw down as it hits defined city-building milestones. Praxis is a startup aiming to build a new city organized around the computer revolution that enables people to work from wherever they wish. The company says it is engaging with landowners and governments, designing economic and political systems, architecting buildings and infrastructure, and bringing together the people who will inhabit the city. Praxis describes the project as still early in the process and plans to use fresh capital to hire more staff for its real estate, governance and engineering teams. Financially, Praxis raised $15 million in a Series A funding round. Prior to the Series A, the company raised $4.2 million in a seed round late last year. Seed investors included Balaji Srinivasan and Winklevoss Capital.

Total raised

$540M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2024