Ambitious Fundraising Push as Foundation Eyes Billion Dollar Mark
- By Cosmin T.
- -
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Brief
- Sankaet Pathak pivots from Synapse bankruptcy to launch Foundation, aiming at humanoid robotics.
- Foundation seeks $100 million funding, targeting a $1 billion valuation, after debuting its Phantom robot.
- The tech world watches as Pathak pursues ambitious goals, despite missing funds from Synapse bankruptcy.
Sankaet Pathak, formerly of fintech company Synapse, faced significant challenges when the firm entered bankruptcy in 2024, leaving many consumer deposits missing. Despite this setback, Pathak now sets his sights on a new sector, shifting focus to humanoid robotics with his latest startup, Foundation.
The tech community has taken note as Pathak pursues a substantial $100 million funding round, valuing Foundation at an eye-catching $1 billion. These lofty figures arrive even though Foundation only recently introduced its humanoid robot, Foundation Phantom, earlier in the year.
Foundation’s Bold Ambitions
Last August, Foundation completed a pre-seed raise totaling $11 million from Tribe Capital alongside several angel investors. With its core objective centered on building humanoid robots for complex tasks, the company aims to solve labor shortages across various industries.
Efforts to move forward come while questions about unaccounted funds from Synapse remain. Representatives for Pathak have yet to respond to recent outreach regarding Foundation’s funding pursuit.
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