Sankaet Pathak, the founder of the recently established humanoid robotics startup Foundation, has successfully raised $11 million in a pre-seed funding round. This funding round, led by Tribe Capital and including a roster of well-known angel investors, is an important achievement for the new venture. Pathak intends to raise $100 million in the coming years. With this funding, the Foundation is further propelled toward that ambitious goal of a $1 billion valuation.
foundation, a.k.a foundation.bot, shoots up the musical reformation landscape. This blossoming comes on the heels of the bankruptcy of Pathak’s last venture, Synapse, which went under in 2024. Synapse’s demise was due to failures within its partner Evolve Bank & Trust. This catastrophic error resulted in tens of millions of dollars in consumer deposits going missing. It only affected end-users of customer-facing fintechs that had gone with Synapse.
Even after the difficult experience with Synapse, Pathak wants to continue going all in with Foundation. His vision for the startup goes beyond self-driving cars, drones, and automation to building smart humanoid robotics technology that he believes would disrupt the industry. The recent funding round is a vote of confidence from these investors in Pathak’s abilities and the potential of his new venture.
Tribe Capital has established itself as a tech investment powerhouse. They are thrilled about Foundation’s innovative model and huge market potential. The support from the world’s most recognizable venture capital firm adds to Foundation’s burgeoning credibility. Second, it underscores the growing interest surrounding humanoid robotics as an emerging field ripe for innovation and investment.
Foundation is looking to raise more matching funding themselves. Industry watchers have an eager eye on its progress and the strategies Pathak will employ to get there. That $1 billion valuation as reported would put Foundation squarely in the class of the biggest ventures in the booming robotics industries.
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