Technology

Abstra, a Brazilian no-code startup, raises BRL 3.6 million from Iporanga Ventures

Abstra's platform allows other companies to create internal apps without coding, through a graphical interface; the startup was also selected by the U.S. accelerator Y Combinator

Abstra, a Brazilian no-code startup, raises BRL 3.6 million from Iporanga Ventures
Abstra's platform interface. Image: Abstra/Website
Ler em português

Build applications and websites without writing a single line of code. With this thesis, the Brazilian startup Abstra, a no-code platform, has just raised an investment of BRL 3.6 million in a pre-Seed round led by Iporanga Ventures.

Abstra’s product is aimed at other companies that need internal apps, solutions to solve operational problems and make internal processes more efficient. The development of an internal app usually requires specialized professionals and takes time.

With Abstra’s platform, it is possible to build these solutions without the need for programming knowledge, from a graphical interface, and in a more personalized way, with functionalities to solve specific problems of a certain sector of the company.

READ ALSO: Dric Code: Brazilian startup creates a two-dimensional code that stores up to 20,000 files

Founded in 2020 by programmer Bruno Costa, Abstra was idealized when Costa himself experienced the difficulty of meeting the internal demands of a company for solutions that were not aimed at customers, but rather at its internal audience. Before founding the startup, Costa co-founded PaperX, an educational platform later acquired by the Descomplica edtech company. Costa served as product and technology leader at edtech, when he identified this market gap.

“Generally companies need simple tools for day-to-day use, but they require a code to be built, so I researched how people who are not programmers could do it, and I came across the concept of no-code and low-code,” he said.

READ ALSO: Brazilian Y Combinator-backed Jestor helps companies to run with a no-code platform

According to the startup, since the beginning of the year, Abstra has grown 50 times and already serves clients such as fintech Stone, the education platform CBI of Miami, and the management company Grimper, among others. In addition to the investment from Iporanga Ventures, Abstra was also selected by Y Combinator‘s acceleration program, in Silicon Valley.

With the capital raised, Abstra will invest in its technology, mainly in machine learning, in order to make its product smarter, improving the UX. The startup is also expected to triple its team and growing tenfold by the end of this year.

READ ALSO: SoftBank’s big bets in 2021: retail & consumer and fintechs

Renato Valente, partner at Iporanga, argued for the potential of Abstra’s solution. “The potential for scaling is gigantic, as more companies and people depend on these solutions to be more efficient. And in Brazil, this is even more valuable, since specialized labor is expensive and scarce,” he said.

Get the best insights about Latin America market in your inbox