Foundation, a US-based builder of Bitcoin-centric open-source hardware and software tools, has raised $6.4M led by Fulgur Ventures. The company develops Passport Prime, a hardware device for securing Bitcoin keys, identity, and approvals with 50GB encrypted storage, 2FA, and security keys. The capital will support expansion into AI agent authorization and KeyOS developer platform.
Bitcoin Hardware Meets AI Security Needs
The timing aligns with growing demand for offline security as AI agents enter financial workflows. NGRAVE raised $6.5M while Coinkite operates on $0.115M mostly self-funded. Foundation's approach extends Bitcoin self-custody principles into programmable human approvals for autonomous systems.
AI Agents Lack Human Oversight
Crypto users face rising AI-powered scams and custodian risks, with hardware wallets addressing demand for verifiable control. The hardware wallet market stands at $0.72 billion in 2026 and is projected to reach $2.25 billion by 2031, growing at 25.59% CAGR.
Passport Prime Adds Human Authority Layer
Passport Prime combines Bitcoin wallet functions with FIDO2 keys, offline 2FA, and encrypted storage using a Rust-based KeyOS microkernel and QuantumLink encrypted Bluetooth. Unlike single-purpose competitors, it enforces explicit human approval for actions and supports third-party apps through an upcoming KeyOS app store.
As one announcement noted:
"The AI era requires a new security model."
Fulgur Ventures Validates Bitcoin Thesis
Fulgur Ventures, focused on Bitcoin infrastructure, led the round with Arche Capital participating. This brings total funding to $16.5M and signals strong conviction in open-source hardware that bridges self-custody with emerging AI security needs.
Hardware Wallet Market Expands Quickly
The market grows amid self-custody demand and regulatory scrutiny of custodians following major collapses. Foundation positions Passport Prime as the first Human Authority Hardware device, differentiating through US assembly, full open-source transparency, and multi-function design versus Bitcoin-only air-gapped alternatives.