About Foundamental
Foundamental is a venture capital firm founded in 2019. It is primarily based out of Berlin, Germany. As of Oct 2026, Foundamental is an active investor, having invested in 74 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Real Estate and Construction Tech and High Tech. Most recently it participated in the $***** Series B round of Kuro Overall, Foundamental portfolio has seen 1 unicorn and 5 acquisitions including key companies like TazaPay, Infra.Market and Safe AI. A lot of funds co-invest with Foundamental, with names like Khosla Ventures sharing a substantial percentage of its portfolio. Foundamental has team of 9 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Foundamental's List of Top Investments
Foundamental has a portfolio of 74 companies, one of which is a Unicorn. Their most notable investments are in Infraprime Logistics Technologies and GreenFortune Windows and Doors.Their portfolio spans across United States, India, Germany and 16 more locations. They have invested in Enterprise Applications, Real Estate and Construction Tech, High Tech and 16 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Foundamental:1. TazaPay
Provider of cross-border payment solutions for businesses to collect, hold, and pay seamlessly across the globe. The company offers a range of payment solutions, including checkout, payment link, and escrow services, to support international trade. With a focus on simplifying cross-border payments, Tazapay enables businesses to operate globally with ease and efficiency. The platform supports multiple payment options and currencies, catering to the needs of a diverse client base.
Key facts about TazaPay
- Founded Year: 2020
- Location: Singapore (Singapore)
- Annual Revenue: $1M - $10M as on Mar 31, 2024
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $57.9M
- Employee Count: 294 as on Aug 31, 2026
- Investors: PayPal, Peak XV Partners and 18 Others
- Latest Funding Round: Series B, Mar 26, 2026, $*****
- Highlight: Acquired
2. Infra.Market
Manufacturer of building materials for construction and infrastructure project requirements. Operations include the production and distribution of structural components, finishing materials, and lifestyle products. Offerings consist of concrete, steel, aggregates, walling blocks, plumbing fixtures, and various interior finishing items. The business model integrates manufacturing facilities with a distribution network to supply materials for residential, commercial, and industrial construction projects. Products include paints, tiles, sanitaryware, electrical appliances, and modular kitchen components. The supply chain facilitates the delivery of these materials to construction sites and retail outlets.
Key facts about Infra.Market
- Founded Year: 2016
- Location: Thane (India)
- Annual Revenue: ₹1,000+ Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $784M
- Employee Count: 2,645 as on Aug 31, 2025
- Investors: Evolvence Equity Partners, Nexus Venture Partners and 280 Others
- Latest Funding Round: Series G, Nov 14, 2025, $*****
- Highlight: Editors' Pick
3. PermitFlow
Provider of a platform for managing the permit process of construction projects. The platform helps to digitize the process of scoping and preparing construction permit applications. It provides solutions for the preparation, filling, and submission of permit applications to the municipality.
Key facts about PermitFlow
- Founded Year: 2021
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $91M
- Employee Count: 162 as on Aug 31, 2026
- Investors: Felicis Ventures, Kleiner Perkins and 19 Others
- Latest Funding Round: Series B, Dec 02, 2025, $*****
- Highlight: Editors' Pick
4. 011h
Provider of technology solutions for construction industry. It offers tech-enabled services like designing, cost calculation, supply chain management, construction monitoring, and much more. It uses digital technology to connect and streamline the construction process and stakeholders.
Key facts about 011h
- Founded Year: 2020
- Location: Barcelona (Spain)
- Stage: Series B
- Total Funding till date: $60.8M
- Employee Count: 296 as on Sep 30, 2026
- Investors: Breega, MK Venture Capital and 13 Others
- Latest Funding Round: Series B, Oct 10, 2025, $*****
- Highlight: Editors' Pick
5. LocoNav
Provider of fleet management software and vehicle video telematics solutions. This platform integrates artificial intelligence and internet of things technology to monitor vehicle performance, fuel usage, and driver behavior. It offers tools for asset tracking, remote immobilisation, and electric vehicle battery health analysis. These systems assist businesses in managing logistics, reducing operational costs, and improving safety for commercial transport and transit operations.
Key facts about LocoNav
- Founded Year: 2016
- Location: Wilmington (United States)
- Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2024
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $47M
- Employee Count: 306 as on Aug 31, 2026
- Investors: Trifecta Capital, RIT Capital Partners and 28 Others
- Latest Funding Round: Series B, Jun 28, 2021, $*****
- Highlight: Editors' Pick
Foundamental's Year-on-Year Investment Trends
Foundamental has invested in 74 companies over the last 8 years, with an average of 8 new investments annually in the last 5 years. In 2025, it made 8 investments, while as of Oct 2026, it has made 2 investments in this year. Its most recent first time investment was in Kuro and most recent follow-on round was in Rayon.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 3 | 5 | 8 |
2024 | 6 | 4 | 10 |
2023 | 11 | 6 | 17 |
2022 | 15 | 10 | 25 |
2021 | 11 | 4 | 15 |
2020 | 8 | 1 | 9 |
2019 | 8 | 0 | 8 |
2018 | 1 | 0 | 1 |
Foundamental's Investments by Stage
Foundamental has made 41 investments in Seed stage with an average round size of $3.82M, 17 investments in Series A stage with an average round size of $11.7M and 6 investments in Series B stage with an average round size of $17.2M.Stage of entry | No. of Investments |
|---|---|
Seed | 41 |
Series A | 17 |
Series B | 6 |
Note: We have considered here, only first round of investments
Foundamental's Investments by Sector
Foundamental has a diverse portfolio, with companies operating in the Real Estate and Construction Tech, Enterprise Applications, Vertical SaaS, Consumer and High Tech. Notably, it has invested in 61 Tech companies, 58 Enterprise (B2B) companies, 39 Software companies and at least 24 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Real Estate and Construction Tech | 38 |
Enterprise Applications | 33 |
Vertical SaaS | 17 |
Consumer | 16 |
High Tech | 8 |
Others | 64 |
Note: We have considered here, only first round of investments
Foundamental's Investments by Geography
Foundamental has made most investments in United States (18), followed by India where it has made 16 investments.Country | No. of Investments |
|---|---|
United States | 18 |
India | 16 |
Germany | 6 |
France | 4 |
United Kingdom | 4 |
Others | 17 |
Note: We have considered here, only first round of investments
Foundamental's recent investments
Foundamental has made 2 investments in 2026 so far - Kuro and Rayon.Here are the most recent investments by Foundamental:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 01, 2026 | China | Series B | 9031 | [+2] | |
Sep 29, 2026 | France | Series A | 1356 | [+2] | |
Oct 31, 2025 | France | Series A | 8160 | ||
Jun 24, 2025 | Germany | Series B | 6204 | [+4] | |
2025 | India | Seed | 5216 | - |
Unicorns in Foundamental's Portfolio
Foundamental has 1 unicorn in its portfolio - Infra.Market. The most recent unicorn in their portfolio is Infra.Market which became a unicorn in 2021.Here is a list of unicorns in Foundamental's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
69 | Manufacturer of building materials for construction and infrastructure project requirements | 2016 | Thane | Series G | wgybfrw |
Acquired companies in Foundamental's Portfolio
5 companies from Foundamental's portfolio have been acquired. The most recent acquisition was TazaPay in Sep 2026 by Circle for $*****.Here are Foundamental's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 09, 2026 | Feb 09, 2023 | Series A | 8546 | |
Jul 15, 2025 | Feb 12, 2019 | Series A | 9892 | |
Jun 07, 2021 | Aug 12, 2019 | Seed | 7992 | |
May 06, 2021 | Sep 18, 2019 | Series A | 4026 | |
Mar 12, 2020 | Jan 22, 2019 | Seed | 5580 |
Team profile of Foundamental
Foundamental has a team of 9 members including 3 Partners and 2 Principals located in Germany and United States. Foundamental's team does not sit on the board of any company as of now.Here is a list of all team members in Foundamental:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Berlin | HalaPlay, Hypernova Interactive and 1 more | ||
Partner | Berlin | - | ||
Partner | San Francisco | - | ||
Principal | Berlin | - | ||
Principal | Berlin | - |
Co-investors of Foundamental
Over the past 8 years, 834 investors have co-invested in Foundamental's portfolio companies. This includes funds and angels.
- Invested before Foundamental: Y Combinator, RTP Global and 148 others have invested in rounds before Foundamental. There are 3 companies where Y Combinator has invested before Foundamental and 2 companies where RTP Global has invested before Foundamental.
- Top Co-investors of Foundamental: 213 investors entered a company along with Foundamental. These include investors like Khosla Ventures (3 companies).
- Invested after Foundamental: A total of 471 investors have invested in Foundamental's portfolio after their investments. Top Investors include Stride Ventures (3 companies), Mars Growth Capital (3 companies) and Pratithi Investments (2 companies).
Recent News related to Foundamental
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Berlin-based Kuro raises €10 million for AI foundation for general contractorsEU-Startups•Oct 02, 2026•Foundamental, Kuro, UVC Partners
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Rayon lands €10M from Partech to bring AI and 3D into interior design softwareTech Funding News•Sep 29, 2026•PAR Technology Corp, Rayon, Partech Partners, Seedcamp and 2 others
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French neobank FAKTUS raises €56M to digitise construction finance across EuropeTech Funding News•Oct 31, 2025•Faktus, Insight Investment, BBC, Lakestar and 2 others
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Foundamental floats third construction tech fund, sharpens India focusVCCircle•Sep 17, 2025•Foundamental
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Enter Secures €20Million In Series B RoundStartup Rise EU•Jun 24, 2025•Enter, Coatue, Target Global, Partech Partners and 2 others
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Window and door maker GreenFortune raises $4.5 million in round led by Germany-based fund FoundamentalIndiatimes•Mar 26, 2025•GreenFortune Windows and Doors, Foundamental, Titan Capital, Incubate Fund India and 2 others
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Reneo snaps €600M to lead Germany’s brown-to-green real estate shiftTech Funding News•Feb 20, 2025•Reneo, Eurazeo, Lakestar, Foundamental and 4 others
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Sarepta Therapeutics Announces Inaugural $600 Million Senior Secured Revolving Credit FacilityBusiness Wire•Feb 14, 2025•Sarepta, JPMorgan Chase, Morgan Stanley, Barclays and 14 others
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Desteia Raises $8M in Seed FundingFinSMEs•Feb 05, 2025•Desteia, Autotech Ventures, Village Global, Foundamental and 2 others
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Desteia Leverages AI and Graph Theory to Alleviate Supply Chain DisruptionsCNW•Feb 04, 2025•Autotech Ventures, Nazca, Village Global, Foundamental and 3 others
