Utopia Labs raises $1.5M to build the infrastructure to help DAOs scale.

Today we are featured on Tech Crunch and excited to announce our 1.5 million pre-seed round led by Kindred Ventures with participation from Syndicate DAO, 4th Revolution Capital, Distributed Global, alongside a group of angels including; Trevor McFedries at Brud, Alex Zhang at FWB, Tyson Battistella from Zora, Colin Goltra at Binance, Gabby Dizon from YGG, Gabe Leydon from Machine Zone, Jason Choi from Spartan Fund and several other amazing operators.

Utopia Labs was co-founded by Kaito Cunningham (formerly Ernst & Young and M31 Capital), Pryce Adade Yebesi (Kleiner Perkins Fellow and ex Facebook), Alexander Wu (ex LunchClub), and Jason Chong (ex Microsoft).

With this raise, we will be expanding our team by hiring a founding full-stack engineer and a founding designer (apply here).

DAOs, also known as Decentralized Autonomous Organizations, are “member-owned communities without centralized leadership.” Enabled by blockchain technology, DAOs allow people from anywhere in the world to form communities whose products and services can have a global reach from launch. Many people from all over the world have realized this amazing opportunity, and there is currently over $9 billion dollars of value locked in DAO treasuries - this number will only grow.

Utopia Labs believes that DAOs are the next iteration of governance structures. DAOs will revolutionize the way work is done and allow anyone from anywhere in the world to collaborate on amazing projects and gain ownership in what they build. This structure will fundamentally change how people engage with their employers and their work for the better.

Utopia Labs is building the tools to help further democratize access to scaling and building vibrant DAO communities. Our tools will help address the most pressing challenges of running a DAO community, such as payroll, expense management, and HR management.

We are building the tools that will change work and collaboration for the better. We will be sharing more details soon but until then we are working with our amazing partner DAOs to launch beta.