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About Foundation
Industries
Robotics & Automation
Industrial & Manufacturing
AI & Machine Learning
Company Size
11-50
Company Stage
Seed
Total Funding
$11M
Headquarters
San Francisco, California
Founded
2024
Overview
Foundation Robotics Labs develops humanoid robots specifically for the industrial automation sector, aiming to alleviate labor shortages in complex manufacturing environments. Their main product, the 'Phantom' robot, is engineered to work in demanding industrial settings, and the company has tested its capabilities in various sectors such as consumer goods, beverage, and glass production. Unlike many competitors, Foundation Robotics employs a hybrid AI approach combined with a 'physics-action model' that allows their robots to adapt to dynamic environments. The company's goal is to provide large-scale industrial clients with robotic solutions that automate tasks typically performed by human workers, thereby enhancing efficiency and productivity in industries facing significant labor challenges.
Simplify's Take
What believers are saying
- Growing demand for automation in beverage and glass sectors aligns with Foundation's focus.
- Robotics-as-a-Service model reduces upfront costs, appealing to large-scale industrial clients.
- Industrial robotics market expected to grow at 10.35% CAGR from 2023 to 2028.
What critics are saying
- Founder Sankaet Pathak's past bankruptcy may deter potential investors.
- High competition in robotics sector could challenge Foundation's market position.
- Technological challenges in humanoid robots may impact financial stability and timelines.
What makes Foundation unique
- Foundation uses a unique 'physics-action model' for dynamic industrial environments.
- The Phantom robot is designed for complex manufacturing settings, addressing labor shortages.
- Foundation's hybrid AI approach enhances robot adaptability and efficiency in automation.
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Funding
Total Funding
$11M
Above
Industry Average
Funded Over
1 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Retirement Plan
Growth & Insights and Company News
6 month growth
↑ 12%1 year growth
↓ -6%2 year growth
↓ -6%Ex-Synapse CEO Sankaet Pathak is reportedly seeking to raise $100 million for his new humanoid robotics startup, Foundation, at a $1 billion valuation. This comes after his previous company, Synapse, filed for bankruptcy in 2024, leaving tens of millions in consumer deposits unaccounted for. Foundation, which launched its humanoid robot Phantom earlier this year, previously raised $11 million in a pre-seed round. The startup aims to create robots for complex environments to address labor shortages.
Listen to this articleSwiss-Mile raised $22M in August 2024 for its wheeled quadruped. Fifty producers of robots and robotics enabling technologies received funding in August 2024, pulling in a total of approximately $1 billion. This figure is on par with the $1.2 billion average The Robot Report has tracked each of the previous 12 months. Investment targeted to robotics companies for the first eight months of 2024 equals about $10.86 billion. You can follow The Robot Report‘s investment section here. The largest investments in August were secured by developers of autonomous driving technologies
Tens of millions of customer dollars remain unaccounted for at his previous startup, fintech Synapse. But that’s not deterring Sankaet Pathak from forging
Foundation is Hiring for 26 Jobs on Simplify!
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About Foundation
Industries
Robotics & Automation
Industrial & Manufacturing
AI & Machine Learning
Company Size
11-50
Company Stage
Seed
Total Funding
$11M
Headquarters
San Francisco, California
Founded
2024
Foundation is Hiring for 26 Jobs on Simplify!
Find jobs on Simplify and start your career today