News Summary

Sankaet Pathak, the former CEO of Synapse, a fintech company that filed for bankruptcy in 2024, is reportedly seeking to raise $100 million for his new venture, Foundation. This ambitious fundraising effort aims to secure a $1 billion valuation for the humanoid robotics startup, which recently introduced its robot, Phantom. Foundation, focused on creating advanced humanoid robots to tackle labor shortages in complex environments, previously raised $11 million in a pre-seed round last August.