Announcing Our Pre-Seed Raise
Foundation Devices is thrilled to announce that we’ve raised a pre-seed round of $2.5M led by Bolt.
Joining us are new investors Third Prime, Massachusetts Avenue Capital, Unpopular Ventures, Deep Ventures – as well as existing investors Warburg Serres, Fulgur Ventures, Inflection, and notable angels.
Bolt, a prominent early-stage venture fund, invests at the intersection of the physical and digital worlds. They were first round investors in groundbreaking hardware companies like Desktop Metal, Tonal, Nautilus Bio, and Fi.
Tyler Mincey, a partner at Bolt, is joining our board. Tyler has a highly relevant background in product management, design, and hardware/software engineering in companies large and small. At Apple, Tyler was a member of the original iPhone core team, later managed the iPod new product roadmap, and shipped over 150M units worldwide. We are thrilled to work closely with Tyler on developing new products and honing our design & manufacturing capabilities.
Foundation is building the open hardware foundation for Bitcoin and a decentralized Internet. We believe that a new Internet, powered by open source software, must run on open hardware. Today’s devices are opaque, proprietary, and restrictive. Our goal is to build a new category of sovereign computing to serve as an open platform for development of a decentralized Internet.
For Bitcoin and a decentralized Internet to succeed, users must store their own keys and run their own infrastructure. This is where we come in. Foundation believes software solutions alone are insufficient – consumers need integrated hardware and software to make it as easy to store your own keys as it is to open an account on an exchange.
Last month we began shipping our first product, Passport, a next-gen Bitcoin hardware wallet. Passport is designed to be beautiful, intuitive, ultra-secure, and completely open source. Over the next several months we will improve Passport with firmware updates and design enhancements, as well as introduce companion software to further enhance the user experience.
To date, we’ve built all of Foundation with just four cofounders. We are now excited to be expanding the team in the following areas. If interested, view our Jobs Page and email us at email@example.com.
- Software Engineering (web, mobile, embedded, Bitcoin)
- Mechanical Engineering
- FPGA & ASIC Engineering
- Graphic & Industrial Design
- Customer Support
- Social Media & Community
Join us in our mission to make Bitcoin and decentralized tech accessible to each and every individual in order to build a new era of sovereignty, ownership, and privacy – and empower humankind.
– Team Foundation
Order Passport Batch 2 today, limited to 2400 units!