Foundation Devices Raises $7 Million to Preserve Freedom & Privacy

• Foundation Devices has announced the end of a seed round raising $7 million, led by Polychain Capital and other investors such as Greenfield Capital, Lightning Ventures, Third Prime, Warburg Serres, Unpopular Ventures and Bolt.
• The company has released the second edition of the flagship Passport and a new mobile app titled “Envoy”.
• CEO Zach Herbert stated that “Preserving freedom and privacy is more important than ever.”

Foundation Devices, a company which was launched in April of 2020, has successfully raised $7 million in a seed round led by Polychain Capital. Other investors included new additions Greenfield Capital and Lightning Ventures, alongside previous investors Third Prime, Warburg Serres, Unpopular Ventures and Bolt. The company had previously been backed by Bolt, an early stage venture fund, when they had launched their original flagship product, the Passport, a month after their launch.

Foundation Devices has released the second edition of their flagship Passport, which has gained traction and adoption among consumers with thousands of Passports sold over the last 18 months. In addition to the Passport, the company has released a new mobile app titled “Envoy”, which aims to serve as a standalone sovereignty toolkit complete with a Bitcoin software wallet. According to Foundation, “Envoy offers the easiest onboarding and user experience of any Bitcoin wallet, with maximum privacy using the Tor network, a free and open-source software for enabling anonymous communication.”

Zach Herbert, the CEO of Foundation Devices, emphasizes the importance of preserving freedom and privacy. He said, “Preserving freedom and privacy is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies.” Olaf Carlson-Wee, the Founder and CEO of Polychain Capital, commented on the raise, saying, “We are incredibly excited to support them on the next phase of their vision to empower self-sovereign individuals through decentralized technologies.”

The seed round for Foundation Devices marks the beginning of a new era for the company. With the funds raised, the company will be able to continue their mission of providing users with the tools and resources they need to protect their freedom and privacy. Additionally, with the introduction of the Envoy app, users will have the ability to securely store their Bitcoin and access a wide range of decentralized applications.

The success of Foundation Devices highlights the need for privacy and sovereignty in the digital age. As the world continues to become increasingly interconnected, the need for secure and reliable tools to protect our personal data and finances is more important than ever. Foundation Devices is at the forefront of this effort, providing users with the tools they need to stay secure and anonymous.