By Walter Grand in Economy —

Polychain has invested $7 million in a bitcoin wallet developer.

Polychain has invested $7 million in a bitcoin wallet developer.
Photo by Dmitry Demidko / Unsplash

Self-storage bitcoin developer Foundation Devices has raised $7 million in a seed round led by Polychain Capital.

Other participants include Greenfield Capital and Lightning Ventures, as well as existing startup investors Third Prime, Warburg Serres, Unpopular Ventures and Bolt.

Foundation Devices' flagship products are the Passport hardware wallet, which uses a camera and QR codes for security purposes, and the Envoy mobile app. The app provides the ability to customize and interact with the device.

The startup will use the funding to expand its team of engineers and designers, as well as create new offerings with a focus on programming services.