+Colonia, the innovative city project that rises on the Río de la Plata near Colonia del Sacramento, Uruguay, announced the arrival of Praxis, the American startup co-founded by Dryden Brown that brings together more than 150,000 members among entrepreneurs, investors and creators.
According to the initial agreement signed between the parties, Praxis will have its own space within the property and would begin acquiring land towards the end of 2027, with the first residents arriving in the middle of that year.
Eduardo Bastitta, CEO and founder of +Colonia, described the arrival of Praxis as “an opportunity to position Uruguay as an innovation hub with international reach.”
Bastitta co-founded Plaza Logística in 2009, the developer that operates more than 400,000 square meters in the metropolitan area of Buenos Aires, and since 2022 he has led a project that today already brings together more than 180 entities with several buildings under construction and hundreds of apartments sold.
A city that is built with purpose
+Colonia extends for about eight kilometers over the Río de la Plata and projects a total investment of US 1,000 million, of which it declares US $ 290 million already committed. The first phase occupies about 350,000 square meters, about 20% of the total urbanization. Sales contracts with the Praxis community would start in the first half of 2027.
The project has the support of institutions such as ANII, LATU and the German institute Fraunhofer IAO, and already has 30 startups that signed a commitment to co-create the city together with more than 2,700 Praxis members with the intention of settling.
Praxis adds a physical destination to its digital community
“The world tour is over: we chose Uruguay,” said Dryden Brown, CEO of Praxis, about the choice of Uruguay after a world tour of location evaluation. Praxis presents itself as a digital community that seeks to move to a physical space where its members can live and work, with a vision of the future of work in an environment marked by artificial intelligence.
By 2023 it had raised nearly US$20 million from Apollo Projects, Sam Altman’s vehicle, and in 2024 it announced a financing commitment of up to US$500 million from Gem Digital, tied to the achievement of milestones.
