Polychain Invests $7M in BTC Wallet Developer Foundation Devices

Foundation Devices, a developer of Bitcoin self-storage tools, has recently raised $7 million in a seed round led by Polychain Capital.

According to CoinDesk, other investors include Greenfield Capital and Lightning Ventures, as well as current startup investors Third Prime, Warburg Serres, Unpopular Ventures and Bolt.

The company’s most popular product is the Passport hardware wallet, which uses a camera and QR codes for security purposes, and the Envoy mobile app. The program provides the ability to configure and interact with the device.

The company has said it will use the funds to expand the team of engineers and designers, as well as create new offers with a focus on programming services.