Key Points
- Robot startup Foundation has failed to pay employees since missing its Oct. 30 payroll, angering some workers after its CEO borrowed $4.6 million from the firm last year to buy a luxury home, according to people familiar with the matter.
- CEO and co-founder Sankaet Pathak is Foundation’s sole board member, raising governance concerns among prospective investors.
- Foundation’s widely reported $24 million in Pentagon contracts actually stems from its 2024 acquisition of Boardwalk Robotics, which held some existing government research contracts, the people said.
- Pathak’s previous company, Synapse, collapsed in 2024, leaving thousands of customers without access to deposits. Pathak reportedly took loans from Synapse as it neared bankruptcy.
Also I find it hazardous to just throw in the name Synapse given there’s about two dozen companies of all sizes with that name…
It’s specifically Synapse Financial Services.
But it’s lovely to know that Pathak keeps stealing names from everywhere. Not an original idea in his body.
is that the same company that took my yotta money? this guy needs a French haircut