NewsEnglish · 5 hours ago

Eric Trump-backed robot soldier startup can’t pay staff after founder borrowed $4.6 million from company to buy home

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Eric Trump-backed robot soldier startup can’t pay staff after founder borrowed $4.6 million from company to buy home

NewsEnglish · 5 hours ago

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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.

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PetteriPano
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4 hours ago
Reminds me of the Kickstarter for the peachy printer.

AFAIK the co-founder didn’t face any consequences or pay anything back in that case.

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