Although it officially exists just shy of two months, the Croatian startup Daytona announced that they have already managed to attract investments of $2M. In this pre-seed round, most of the investment comes from angel investors and dev-tool companies.
Daytona already boasts impressive investors. Some of them are Abhinav Asthana, founder of Postman; Charity Majors, co-founder of Honeycomb; Christian Bach, founder of Netlify and Prashanth Chandrasekar, director of StackOverflow.
The Croatian startup ecosystem is hugely encouraged by the investments that also come from the local investors. Some of them are Damir Sambol, who is the founder of Photomath and the co-founder of Infinum, Tomislav Car.
This investment helps us achieve our mission to become the industry standard in managing development environments, starting with large corporations or the enterprise sector. The strong support of individuals and institutions with deep roots in the development tools industry is not only a confirmation, but also a big joint step towards the transformation of development environments, explains Ivan Burazin, co-founder of Daytona.
Most of the investments, as much as two thirds, come from angel investors. The last third comes from investment funds such as Silicon Gardens, 500 Emerging Europe and Firestreak Ventures.
With the investment of $2 million, the startup managed to double its expectations. Daytona was hoping for an initial investment of $1 million. However, the funds started to accumulate, and in the end they had to cut the cord and to stop collecting the investments.
The main reason for the interest in the investment is the expectation that in the beginning of 2024 Deytona will double its revenues.
This investment will be used to accelerate the development and to expand the existing staff. A portion of the funds will be used to conquer new markets, with focus on large companies that prioritize an independent development environment.
Daytona in a nutshell
Daytona is a Croatian startup company working on developing a tool that can save software engineers the time needed to prepare all the development tools for working in a new environment. Usually this is something that large companies develop independently for their needs. Daytona’s tool allows companies to have full control over their development environment, whether it’s on-premises or in the cloud.
The idea of developing the tool comes from the need of the users who used Codeanywhere.
Codeanywhere is a cloud programming platform developed by Ivan Burazin and Vedran Jukic. In 2013, the platform received the title of best project at TechCrunch Startup Alley. In a way, the new product is a continuation of what they were doing on Codeanywhere.
The development of this product is driven by the market itself. Namely, the clients asked us (Codeanywhere) to develop their own solutions for them, and besides, they had so many requests that we decided to seriously entertain the idea. This time we did detailed market research before writing a single line of code – and so far it seems we’re on the right track. To create Codeanywhere, or rather a code editor in a browser, we had to arrange an infrastructure on which the code editor will be used. It is this infrastructure that is the foundation of the Daytona story.
What Daytona offers its customers is a significantly faster process for creating a working environment. Instead of hours or days, the whole process is shortened to a few seconds and the client is all set.
Potential customers of the company come from different sectors. Unlike Codeanywhere which is aimed at individuals, Daytona is aimed at business users and larger companies.
The tool is compatible with any environment (IDE) and code versioning. Additionally, the tool integrates with the company’s existing infrastructure, with a focus on security.
Daytona’s first customers come from the banking sector, insurance and the military industry, according to Netokracija.