Sankaet Pathak’s New Venture Foundation Looks to Raise $100 Million at $1 Billion Valuation
Sankaet Pathak, the entrepreneur behind fintech Synapse which filed for bankruptcy in 2024, is now focused on his latest venture, humanoid robotics startup Foundation. Despite the challenges faced in his previous startup, Pathak is reportedly in the process of raising $100 million for Foundation at an ambitious $1 billion valuation, as reported by The Information.
Foundation made headlines earlier this year with the launch of its humanoid robot, Phantom. The startup, which secured $11 million in a pre-seed funding round last August, is now aiming to revolutionize the robotics industry by creating advanced robots capable of operating in complex environments to address the ongoing labor shortage.
Despite the ambitious fundraising goals, some may question the rapid growth and valuation of Foundation, especially considering the recent troubles faced by Synapse. With tens of millions of dollars in deposits left unaccounted for from Synapse’s closure, investors and consumers remain cautious.
JS has reached out to Sankaet Pathak for further insights and comments on Foundation’s vision and future plans.
