Bitcoin Hardware Wallet Maker Foundation Devices Completes $7 Million Seed Round

Bitcoin Hardware Wallet Maker Foundation Devices Completes $7 Million Seed Round

Led by Polychain Capital, brand-new financiers into the Bitcoin software and hardware company consist of Greenfield Capital and Lightning Ventures.

Led by Polychain Capital, brand-new financiers into the Bitcoin software and hardware company consist of Greenfield Capital and Lightning Ventures.

Structure Devices has actually revealed completion of a seed round raising $7 million, led by Polychain Capital. Other financiers consisted of brand-new additions Greenfield Capital and Lightning Ventures, along with previous financiers Third Prime, Warburg Serres, Unpopular Ventures and Bolt.

Bolt, an early phase endeavor fund, formerly led a seed round for Foundation which totaled up to $2 million. That was simply a month after Foundation’s launch of its initial flagship item, the Passport.

Ever since, the business has actually launched the 2nd edition of the flagship Passport, “which continues to acquire traction and adoption amongst customers with countless Passports offered over the last 18 months,” according to today’s news release.

The business is likewise concentrated on its brand-new mobile app entitled “Envoy” which intends to work as a standalone sovereignty toolkit total with a Bitcoin software application wallet. According to Foundation, “Envoy uses the simplest onboarding and user experience of any Bitcoin wallet, with optimum personal privacy utilizing the Tor network, a complimentary and open-source software application for allowing confidential interaction.”

Repeating the business’s concentrate on personal privacy and sovereignty, CEO Zach Herbert specified that “Preserving flexibility and personal privacy is more vital than ever in the middle of around the world censorship, personal privacy infractions, and negligent monetary and financial policies.”

Polychain Capital Founder and CEO Olaf Carlson-Wee discussed the raise, stating, “We are extremely thrilled to support them on the next stage of their vision to empower self-sovereign people through decentralized innovations.”

Structure Devices was introduced in April of 2020.

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