Sankaet Pathak, known for his previous fintech startup Synapse which filed for bankruptcy in 2024 over issues with Evolve Bank & Trust, is now launching a new humanoid robotics venture called Foundation. Even after Synapse's significant financial troubles, including unaccounted deposits, Pathak is ambitiously seeking to raise $100 million for Foundation at a valuation of $1 billion. The startup has only recently introduced its humanoid robot, Phantom, and had previously secured $11 million in pre-seed funding. Foundation aims to develop advanced humanoid robots to tackle the ongoing labor shortage.
Sankaet Pathak is pursuing a new venture in humanoid robotics, despite his last startup, Synapse, filing for bankruptcy.
Pathak aims to raise $100 million at a $1 billion valuation for his new startup, Foundation, just months after a pre-seed round.
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