Skip to main content

Tag: funding

Announcing Envoy Wallet

Posted on May 17, 2023 - 10:55 am by

We at Foundation are thrilled to launch a major update to our Envoy mobile app for iOS and Android, transforming Envoy into a standalone mobile Bitcoin wallet with a magical setup experience. For more details, read the official press release below.

FOUNDATION LAUNCHES ENVOY WALLET WITH MAGIC BACKUPS, LOWERING THE BARRIERS TO BITCOIN SELF CUSTODY

Updates to Envoy and Passport hardware wallet mark significant advancements in the company’s mission to empower individuals to reclaim their digital sovereignty.

Foundation Devices (“Foundation”), a leader in the development of Bitcoin-centric tools, today announced a major update to its Envoy mobile app, transforming it into a standalone Bitcoin mobile wallet with powerful account management and privacy features. This update is a significant step in Foundation’s mission to make digital sovereignty more accessible and to lower the barriers to Bitcoin self-custody.

The new Envoy update introduces Envoy Magic Backups, a feature that simplifies the setup and backup process for a mobile wallet. Users can now get started in 60 seconds – without seed words – and restore their wallet anytime, on any device, in just two taps. This update empowers users to store and spend their Bitcoin with strong security, privacy via Tor, and a streamlined setup experience.

“With this update, we are excited to bring our best-in-class design, intuitive and approachable user experience, and peace of mind to smartphone users across the globe – no Passport required,” said Zach Herbert, Co-Founder and CEO of Foundation.

In addition to the Envoy update, Foundation announced a price reduction to $199 for its highly rated Passport hardware wallet. Customers who ordered in the last 90 days will be eligible to claim a $50 gift card for the Foundation store.

Foundation also released a major new Passport update. The introduction of the Key Manager extension enables two powerful new tools in child seeds and Nostr keys, both of which are derived directly from a user’s seed on Passport and automatically backed up to microSD.

“Foundation is committed to making Bitcoin and decentralized technologies accessible to everyone,” Herbert added. “These updates mark significant advancements in our mission to empower individuals to reclaim their digital sovereignty. We’re excited to continue delivering products that usher in a new era of freedom and prosperity for users worldwide.”

About FoundatioN

Founded in April 2020, Foundation is dedicated to making Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. The company’s open-source products include Passport, a best-in-class Bitcoin hardware wallet, and Envoy, a mobile Bitcoin wallet.

For more information about Foundation and its products, visit foundationdevices.com.

Announcing Our $7M Seed Round

Posted on December 19, 2022 - 9:18 am by

We at Foundation are thrilled to announce the completion of a $7 million seed round led by Polychain Capital, enabling us to expand, improve, and reach more people with free and open source software and hardware that empowers you to reclaim your digital sovereignty. For more on the raise, read the official press release below.

Foundation Devices Announces Completion of $7M Seed Round to Accelerate Development of its Sovereign Computing Platform

SEED ROUND LED BY POLYCHAIN CAPITAL WITH PARTICIPATION FROM NEW AND EXISTING INVESTORS

BOSTON, MA – December 19, 2022 – Foundation Devices (“Foundation”), a sovereign computing company that develops Bitcoin-centric tools that empower users to reclaim their digital sovereignty, today announced the close of its $7 million seed round led by Polychain Capital. Other investors participating in the round include new investors Greenfield Capital and Lightning Ventures, and existing investors Third Prime, Warburg Serres, Unpopular Ventures, and Bolt.

Founded in April 2020, Foundation builds products that make Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. Foundation’s flagship product, Passport, a best-in-class Bitcoin hardware wallet, offers a unique combination of intuitive design, hardcore security, and a mobile-first approach with QR codes. In March 2022, Foundation launched its second-generation Passport device, which continues to gain traction and adoption among consumers with thousands of Passports sold over the last 18 months.

Additionally, Foundation is continuing to develop its mobile app, Envoy, as a standalone sovereignty toolkit complete with a Bitcoin software wallet. Envoy offers the easiest onboarding and user experience of any Bitcoin wallet, with maximum privacy using the Tor network, a free and open source software for enabling anonymous communication.

Foundation’s financing will enable the company to continue expanding its team and building open source hardware and software products that provide users with a seamless, end-to-end sovereignty experience.

“Preserving freedom and privacy is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies,” said Zach Herbert, Co-Founder and CEO of Foundation Devices. “As the line between the physical and digital world continues to blur, we are excited to continue delivering decentralized products that usher in a new era of freedom and prosperity for users across the globe. This seed round marks just the beginning of our journey to build the world’s first sovereign computing platform.” 

“The Foundation team has been creating gorgeous, incredibly secure, yet easy to use products that further an individual’s ability to self-custody crypto assets,” said Will Wolf, Partner at Polychain Capital. “We are incredibly excited to support them on the next phase of their vision to empower self-sovereign individuals through decentralized technologies.”

“We are proud to support an ecosystem which is open source and transparent,” said Jendrik Poloczek, Principal at Greenfield Capital. “By building products that lower the barrier to becoming a sovereign individual, more people will confidently reclaim control of their money and data.”

“The rave reviews Foundation’s Passport has earned show that people are hungry for a sovereign computing experience that is thoughtfully designed,” said Tyler Mincey, Foundation board member and Partner at Bolt. “This is a giant step in the right direction, both for self-custody and digital sovereignty, and we are excited to continue supporting the Foundation team through this fundraise.”

About Foundation Devices

Launched in April 2020, Foundation Devices builds products that make Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. Foundation’s open source products include Passport, a best-in-class Bitcoin hardware wallet, and Envoy, a mobile app.

To learn more about Foundation, visit our about page.