Robotics startup cofounded by Synapse CEO is raising funds with exaggerated promises about GM ties

Essential Points

A humanoid robotics startup cofounded by the CEO of bankrupt fintech organization Synapse has canvassed Silicon Valley investors for cash by boasting shut ties and an imminent expenditure from Typical Motors — statements turned down by the automaker.
The company, termed Foundation Robotics Labs, is seeking the final $1 million in money for an $11 million seed spherical, according to paperwork attained by CNBC. The investor pitch claimed GM experienced currently fully commited to an financial investment, together with the Menlo Park-primarily based VC business Tribe Capital.
But, in accordance to GM and 1 of the startup’s founders, most of Foundation’s claims linked to the automaker are exaggerated or untrue.

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