Foundation Devices Raises $7M to Empower Self-Sovereign Individuals

• Foundation Devices has announced the end of a seed round raising $7 million, led by Polychain Capital.
• The company has released the second edition of the flagship Passport and is focused on its new mobile app titled “Envoy”.
• CEO Zach Herbert stated that “Preserving freedom and privacy is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies”.

Foundation Devices, a company that launched in April 2020 and seeks to empower self-sovereign individuals through decentralized technologies, has recently announced the successful completion of a seed round that raised $7 million. Led by Polychain Capital, the round was also supported by new additions Greenfield Capital and Lightning Ventures, and previous investors Third Prime, Warburg Serres, Unpopular Ventures, and Bolt.

Just a month after launching its original flagship product, the Passport, Foundation Devices has now released the second edition of the product. The Passport has seen thousands of sales in the past 18 months and is continuing to gain traction and adoption among consumers. The company has also launched “Envoy”, a mobile app that serves as a standalone sovereignty toolkit with a Bitcoin software wallet. Envoy offers a secure and easy onboarding process with maximum privacy using the Tor network, a free and open-source software for enabling anonymous communication.

CEO Zach Herbert emphasized the importance of preserving freedom and privacy, noting that this is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies. Polychain Capital Founder and CEO Olaf Carlson-Wee echoed this sentiment, expressing excitement to support Foundation Devices on the next phase of their vision.

Foundation Devices is committed to providing users with the tools to remain secure and private, and with this round of funding, it looks like the company is on the right track.