Foundation Devices, which develops products to restore digital sovereignty to users, has made a good start by raising an investment of $ 7 million in the seed round that took place.
About the Seed Round
The seed round was held under the leadership of Polychain Capital. The seed round was attended by existing investors such as Third Prime, Warburg Serres, Unpopular Ventures, Bolt, as well as new investors such as Greenfield Capital and Lightning Ventures. The funds raised will be used to expand Foundation Devices’ engineering and design team and to develop next-generation products for users, focusing on software services. Zach Herbert, Co-Founder and CEO of Foundation Devices said:
“Preserving freedom and privacy is more important than ever amid worldwide censorship, privacy violations, and reckless financial and monetary policies. As the line between the physical and digital world continues to blur, we are excited to continue delivering decentralized products that usher in a new era of freedom and prosperity for users across the globe. This seed round marks just the beginning of our journey to build the world’s first sovereign computing platform.”
The Foundation is developing Bitcoin-based applications for users. There are many wallet options available to people who want to store Bitcoin. The company claims that none of these wallets carry the right mix of design and security. The main product of the Foundation, which was created taking these problems into account, is Passport. Passport is a Bitcoin hardware wallet with intuitive design, superior security and QR code support. Because Foundation Devices adopts an open source vision, you can access all the codes of the Passport product via GitHub. The Passport product is currently supported only for Bitcoin. In addition, the Foundation is developing a mobile application called Envoy, which will support the main Passport product.
About Foundation Devices
Foundation Devices was founded in 2020 with the aim of developing products that make Bitcoin and decentralized technologies accessible to everyone. Foundation adopts the principle of completely open source for its products. The company currently has a bitcoin hardware wallet called Passport and a mobile application called Envoy. Foundation believes that users should have full control over their money and data and develops its products taking these into account.
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