# Foundation Devices

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/foundation-devices

- Industry: Hardware
- Headquarters: Boston, US
- Website: www.foundation.xyz/
- Total disclosed funding: $9.5M
- Latest round: Seed (Dec 19, 2022)
- Investors on record: 11

## About

Based in Massachusetts, US, and founded in 2020, Foundation devices Inc operates as a developer of products that make bitcoin and decentralized technologies accessible to people. The company was founded by Zach Herbert (CEO), Ken Carpenter (CTO), and Jacob Johnston. In May 2026, Foundation Devices, Inc. raised USD 6.4 million in venture funding led by Fulgur Ventures, with participation from Arche Capital. 

The sovereign computing company offers a passport hardware wallet and Envoy mobile application. Passport batch 2 offered by the firm is open source and comes with a camera. The hardware wallet supports bitcoin PSBTs and supports software such as bitcoin core, Nunchuk, Specter, etc. Another offering by the firm includes Envoy which is an application for the passport. The application offers a guided setup for the passport. The bitcoin software wallet is open source and notifies the users of passport firmware updates. It also provides in-app support resources and connects to the internet via Tor by default.

The company plans to utilize the May 2026 funding to expand its AI agent authentication, multi-factor authentication, and digital identity verification offerings.

## Funding rounds

- Seed, Dec 19, 2022, $7M — Greenfield Capital Partners, Bolt, Third Prime Capital, Polychain Capital, Unpopular Ventures, Warburg Serres, Lightning Ventures
- Seed, Jun 4, 2021, $2.5M — Bolt, Third Prime Capital, Fulgur Ventures, Deep Ventures, Unpopular Ventures, Warburg Serres, Inflection, Mass Ave Capital

## Investors

- Bolt (https://capitalatlas.ai/funds/bolt) — Seed
- Third Prime Capital (https://capitalatlas.ai/funds/third-prime-capital) — Seed
- Fulgur Ventures (https://capitalatlas.ai/funds/fulgur-ventures) — Seed
- Deep Ventures (https://capitalatlas.ai/funds/deep-ventures) — Seed
- Unpopular Ventures (https://capitalatlas.ai/funds/unpopular-ventures) — Seed
- Warburg Serres (https://capitalatlas.ai/funds/warburg-serres) — Seed
- Inflection — Seed
- Mass Ave Capital (https://capitalatlas.ai/funds/mass-ave-capital) — Seed
- Greenfield Capital Partners (https://capitalatlas.ai/funds/greenfield-capital-partners) — Seed
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Seed
- Lightning Ventures (https://capitalatlas.ai/funds/lightning-ventures) — Seed