Sankaet Pathak, the founder of the now-bankrupt fintech startup Synapse, left the financial tech waters murky when his company filed for bankruptcy in 2024 following issues with its partner, Evolve Bank & Trust. The financial fiasco left a mysterious hole where tens of millions of consumer deposits used to be, with most of those consumers being clients of fintechs associated with Synapse.

However, based on a report by The Information, Pathak is not letting the past setbacks dampen his ambitions. He is reportedly plowing full speed ahead towards securing funding for his latest project, the humanoid robotics venture known as Foundation. Word on the street is he aims to raise a staggering $100 million, valuing Foundation at a cool $1 billion.

These figures may appear monstrous, especially considering the fact that Foundation only unveiled its first humanoid robot, the Phantom, in the earlier part of this year. The company itself had only raised $11 million from Tribe Capital and a few other angel investors less than a year ago in August according to TechCrunch.

Foundation sports the lofty goal of developing high-tech humanoid robots capable of functioning in intricate environments – a solution they hope will help combat labor shortages.

We've reached out to Pathak to share his thoughts about his ambitious goals. As this story develops, check back for updates!