# unshETH DAO

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/unsheth-dao

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: https://unsheth.xyz/
- Total disclosed funding: $3.3M
- Latest round: Seed (Aug 7, 2023)
- Investors on record: 9

## About

Based in California, US, and founded in 2023, UnshETH DAO operates as a financial technology company that offers token allocation solutions for DeFi users. In August 2023, unshETH raised USD 3.3 million in seed funding from Soma Capital Management, 922 Capital, Backend Capital, Electric Ant Lab B.V., and Electric Feel Management.

The company offers a decentralized finance platform that allows users to mint unshETH, a decentralized ETH derivative, by depositing their ETH or Lido Staked ETH (LSDs). Users can then stake unshETH to earn USH. The firm’s DeFi protocol offers an ERC-20 token called unshETH Ether, which is a decentralized ETH staking derivative that represents staked ETH. The platform allows users to deposit ETH or other supported Lido Staked ETH (LSDs) into the platform to mint unshETH.

The company plans to use the funds raised in August 2023 to accelerate the development and expand the protocol's functionalities.

## Funding rounds

- Seed, Aug 7, 2023, $3.3M — ICONIQ Capital, Soma Capital Management, Backend Capital, 922 Capital, The LAO, Electric Feel Management, Epakon Capital, MH Ventures, Electric Ant Lab B.V.

## Investors

- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Seed
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- Backend Capital (https://capitalatlas.ai/funds/backend-capital) — Seed
- 922 Capital — Seed
- The LAO (https://capitalatlas.ai/funds/the-lao) — Seed
- Electric Feel Management (https://capitalatlas.ai/funds/electric-feel-management) — Seed
- Epakon Capital (https://capitalatlas.ai/funds/epakon-capital) — Seed
- MH Ventures (https://capitalatlas.ai/funds/mh-ventures) — Seed
- Electric Ant Lab B.V. — Seed