CUPERTINO, Calif.--(BUSINESS WIRE)--Nov 14, 2023--
Fractl Inc., a pioneer in generative AI-powered programming platforms, today announced its $1.025 million pre-seed funding round, led by WestWave Capital, and emergence from stealth. January Capital and Arka Venture Labs joined the round along with a number of industry stalwarts as angel investors. The team also announced the publishing and open-sourcing of Fractl language, the industry’s first Gen AI-powered programming language, and private availability of Fractl.io, a programming platform that promises more than 100x efficiency gain in Cloud-native, SaaS development at scale.
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Fractl Multimodal Software Development (Photo: Business Wire)
Gartner envisions a future of composable enterprises, where rigid, one-size-fits-all, monolithic systems are replaced by flexible, modular building blocks created by developers. It is hard to achieve this future, since it currently takes many man years and a significant budget to build SaaS apps used by enterprises. Realizing this vision hinges on making dramatic strides in the economics - both the time and budget - of software development.
Fractl Inc.’s unique solution seamlessly integrates generative-AI into the entire developer workflow and brings together all the ways in which developers build software: generative AI, coding, and no-code building, into a single environment. This enables individual developers to build software rapidly, with the productivity of large teams, and brings 2 orders of magnitude efficiency improvements to the cost and time needed to build apps.
Fractl, the open-source programming language, is at the core of this innovative approach:
- Business-level abstraction that makes it much better suited for AI-powered code generation than traditional languages.
- Declarative abstraction that allows developers to purely focus on their business-domain, reducing the code they need to write by more than 90%.
Fractl.io, the next-generation programming SaaS platform, accelerates development with:
- Fractl Design Studio: A collaborative tool that blends AI code generation, traditional coding and drag-and-drop software development, for incredibly fast SaaS application development. Fractl.io users can generate an enterprise app for a variety of enterprise use cases in seconds, and then build out deep functionality rapidly.
- Fractl.io Cloud: A secure, multi-tenant DevOps platform to easily launch and manage apps built in Fractl
“As a CIO, I find myself on the frontlines of a rapidly evolving business landscape where technology is the cornerstone of every company's key operations. Unfortunately, traditional software development approaches are slow, expensive, and plagued by persistent talent shortages," said Chet Gandhi, Chief Information Officer. “Fractl ushers in a new era of open-source software that works with rapid development technologies like no-code and generative-AI code generation to dramatically improve the efficiency for developers.”
"Before Fractl, we faced a constant battle against the clock and budget constraints, in our quest to revolutionize senior care with modern cloud, mobile and AI technologies,” explains Rustam Sengupta, CEO of Tuktu Care. "Fractl has been a catalyst for change in our organization, allowing us to pivot from traditional programming to a future where we can bring ideas to life in a fraction of the time and cost. For startups scaling fast, Fractl is not just an innovative technology; it's a competitive advantage.”
The capital from this round of financing will enable Fractl Inc. to expand its go-to-market efforts, recruit experts spanning the software and product space and support open-source efforts around the programming language.
“We’re incredibly excited about what Ranga and his team are building at Fractl, particularly the open-source Fractl language,” said Gaurav Manglik, General Partner at WestWave Capital. “They have a deep, peer-to-peer understanding of the issues developers face in this age of generative-AI. Building a new software development paradigm while also providing a new language to work with LLMs will change the industry.”
“We are thrilled to partner with Ranga and the Fractl team. Developers today spend more than 30% of their time building internal apps to address the specific challenges faced within their company,” said Aditya Nishtala, Principal at Arka Venture Labs. “Fractl’s language-based approach is the future of no-code technologies and empowers professional developers to create and deploy internal business applications rapidly, with no vendor lock-in.”
“Software development is a discipline that demands structure, rigor and precision. Harmonizing this with the creativity and eloquence of Generative AI is a formidable challenge, yet it empowers developers to transcend their roles as mere coders, and evolve into creators,” said Ranga Rao, Fractl’s Co-Founder and CEO. “At Fractl, we are building the foundational elements of this future, starting from the very core - the programming language.”
To stay updated on Fractl's transformative advancements in software development and to explore their open-source programming language, visit their website at www.fractl.io.
About Fractl
Fractl Inc. is building the foundation of the future of software development with Fractl.io, a programming platform that unleashes unprecedented gains in cost, time and efficiency of building apps. Fractl.io is powered by Fractl, a new open-source programming language, that enables developers to use gen-AI, visual development and traditional coding concurrently to unlock their creativity and productivity by focusing on the business problem, instead of programming syntax. Fractl Inc. is a remote-first company, headquartered in the Silicon Valley, with team members across the globe.
About WestWave Capital
WestWave Capital is an early-stage Venture Capital firm that invests in Seed and Series A Enterprise companies building deep technology solutions. The company’s investments focus on SaaS, Security, Cloud Infrastructure, Blockchain, Analytics, and IoT companies.
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CONTACT: Treble
McKenzie Covell
fractl@treblepr.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION SECURITY APPS/APPLICATIONS TECHNOLOGY OTHER TECHNOLOGY SOFTWARE ARTIFICIAL INTELLIGENCE
SOURCE: Fractl Inc.
Copyright Business Wire 2023.
PUB: 11/14/2023 07:00 AM/DISC: 11/14/2023 07:01 AM
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