SFU Chang Institute for Entrepreneurship and Coast Capital Venture Connection alumnus Kaito Cunningham raises $23m to fund crypto start-up
Decentralized autonomous organizations, otherwise known as DAOs, are a type of blockchain-based organization without leadership or management that allows for decision-making purely by shareholder voting—think of it like a digital co-operative. But just how does a company that decentralizes a majority of their operations handle payroll, accounting and other basic back office tasks?
23-year-old former SFU Beedie student and SFU Charles Chang Institute for Entrepreneurship alumnus Kaito Cunningham has co-founded a cryptocurrency start-up, Utopia Labs, to build the financial back-office software tools needed to handle basic operations for DAOs, crypto-native organizations and startups. Utopia Labs recently raised $23 million USD in Series A funding, with total funds raised so far exceeding $25 million USD.