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.

Supply

Finance

Stocks making the biggest moves midday: Tesla, Intel, Deckers, Charter Communications and more

July 25, 2025

Check out the companies making headlines in midday trading: Tesla – The electric vehicle maker’s stock jumped more than 4% after Business Insider reported that Tesla’s robotaxi service will debut in San Francisco as soon as this weekend. Even with the move, Tesla shares are down nearly 3% week to date. Charter Communications — The […]

Finance

Stocks making the biggest moves premarket: Intel, Centene, Deckers, Paramount and more

July 25, 2025

Check out the companies making headlines before the bell: Intel — Shares of the chipmaker dropped more than 7% after Intel said it will cut 15% of its workforce and slashed plans for chip factory construction in an attempt to revitalize its artificial intelligence strategy. Intel topped second-quarter revenue results, posting $12.86 billion in revenue, […]

Finance

Stocks making the biggest moves after hours: Intel, Deckers, Boston Beer and more

July 24, 2025

Check out the companies making headlines in after-hours trading. Intel – Shares of the chipmaker inched up less than 1% in extended trading. That’s after the company’s second-quarter revenue of $12.86 billion topped the $11.92 billion that analysts surveyed by LSEG were expecting for the period. The company’s third-quarter revenue guidance also surpassed analyst estimates. […]