{"id":5590,"date":"2022-12-19T19:10:20","date_gmt":"2022-12-19T19:10:20","guid":{"rendered":"http:\/\/ci02b33733a000266e"},"modified":"2022-12-19T19:10:20","modified_gmt":"2022-12-19T19:10:20","slug":"foundation-devices-7-million-seed-round","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/foundation-devices-7-million-seed-round","title":{"rendered":"Bitcoin Hardware Wallet Maker Foundation Devices Completes $7 Million Seed Round"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Foundation Devices has announced the end of a seed round raising $7 million, 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.<\/p>\n<p>Bolt, an early stage venture fund, previously led a <a href=\"https:\/\/bitcoinmagazine.com\/business\/foundation-devices-raises-2-million\">seed round<\/a> for Foundation which amounted to $2 million. That was just a month after Foundation\u2019s launch of its original flagship product, the <a href=\"https:\/\/bitcoinmagazine.com\/technical\/foundation-devices-enters-the-sovereign-hardware-game-with-passport-bitcoin-wallet\">Passport<\/a>. <\/p>\n<p>Since then, the company has released the <a href=\"https:\/\/bitcoinmagazine.com\/business\/foundation-devices-launches-new-bitcoin-hardware-wallet\">second edition<\/a> of the flagship Passport, \u201cwhich continues to gain traction and adoption among consumers with thousands of Passports sold over the last 18 months,\u201d according to today\u2019s <a href=\"http:\/\/www.businesswire.com\/news\/home\/20221219005094\/en\/Foundation-Devices-Announces-Completion-of-7M-Seed-Round-to-Accelerate-Development-of-its-Sovereign-Computing-Platform\" target=\"_blank\" rel=\"noopener\">press release<\/a>. <\/p>\n<p>The company is also focused on its new mobile app titled \u201cEnvoy\u201d which aims to serve as a standalone sovereignty toolkit complete with a Bitcoin software wallet. According to Foundation, \u201cEnvoy 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.\u201d <\/p>\n<p>Reiterating the company\u2019s focus on privacy and sovereignty, CEO Zach Herbert stated that \u201cPreserving freedom and privacy is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies.\u201d <\/p>\n<p>Polychain Capital Founder and CEO Olaf Carlson-Wee commented on the raise, saying, \u201cWe are incredibly excited to support them on the next phase of their vision to empower self-sovereign individuals through decentralized technologies.\u201d<\/p>\n<p>Foundation Devices was launched in April of 2020.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Led by Polychain Capital, new investors into the Bitcoin hardware and software firm include Greenfield Capital and Lightning Ventures.<\/p>\n","protected":false},"author":2730,"featured_media":3951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[490,1774,352,93],"class_list":{"0":"post-5590","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-foundation","9":"tag-foundation-devices","10":"tag-fundraising","11":"tag-news"},"author_data":{"id":2730,"name":"BtcCasey","nicename":"casey","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/02\/jn_tjlo_400x400.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/technical-bitcoin-development-pixel.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/5590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2730"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=5590"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/5590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/3951"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=5590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=5590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=5590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}