Led by Polychain Capital, new investors into Bitcoin hardware and software companies include Greenfield Capital and Lightning Ventures.
Device Foundation has announced the end of a seed round that raised $7 million, led by Polychain Capital. Other investors include new additions Greenfield Capital and Lightning Ventures, along with previous investors Third Prime, Warburg Serres, Unpopular Ventures and Bolt.
Bolt, an early-stage venture fund, previously led a seed round for the Foundation that totaled $2 million. It was just one month after Foundation launched its original flagship product, Passport.
Since then, the company has released the second edition of its flagship Passport, “which continues to gain traction and adoption among consumers with thousands of Passports sold over the past 18 months,” according to today’s press release.
The company is also focusing on a new mobile app titled “Messenger” that aims to be a self-contained sovereign toolkit complete with a Bitcoin software wallet. According to the Foundation, “Messenger offers the easiest onboarding and user experience of any Bitcoin wallet, with maximum privacy using the Tor network, free and open source software to enable anonymous communication.”
Reiterating the company’s focus on privacy and sovereignty, CEO Zach Herbert stated that “Preserving freedom and privacy is more important than ever in the midst of worldwide censorship, privacy violations, and reckless financial and monetary policies.”
Polychain Capital Founder and CEO Olaf Carlson-Wee commented on the increase, saying, “We are very happy to support them in the next phase of their vision to empower sovereign individuals through decentralized technology.”
The Foundation Tool was launched in April 2020.