Former Dyson India managing director Ankit Jain's startup Foundry has successfully raised ₹12 crore in a pre-seed funding round. According to reports from Entrackr, the funding round was co-led by BEENEXT and Kettleborough VC, with participation from notable investors including Rishubh Satiya of Plix, Anindita Sampath of Yoga Bar, and Anita Pramoda of Owned Outcomes. The premium home appliance company plans to utilize these funds for technology development and product engineering as it prepares for its market launch.
As reported by Entrackr, Foundry plans to launch its first range of kitchen appliances in the second half of 2027. The company is developing appliances using proprietary, patent-pending technology, with its initial product portfolio centred on the kitchen. The startup aims to combine engineering and industrial design with materials suited to modern homes, creating appliances for contemporary homes while building technology capabilities that can support future product development. Beyond kitchen appliances, Foundry also plans to enter appliance categories beyond the kitchen, indicating a broader product portfolio strategy.
According to the company's press release, founder Ankit Jain emphasized that the next leap in appliances won't come from making individual machines better, but from rethinking how they are engineered, how they work together, and how intelligence can make them more useful over time. Jain stated that the company is investing in technology from the ground up with the ambition of creating a fundamentally different experience with everyday appliances. His vision focuses on challenging established assumptions in the consumer appliances industry by combining technology with deeper understanding of consumer behavior.
As reported by Entrackr, Ankit Jain's career spans Nestlé, Walmart and Dyson, followed by his move into entrepreneurship. Jain studied for a BCom (Honours) degree at Hansraj College, University of Delhi, pursued Chartered Accountancy through the Institute of Chartered Accountants of India (ICAI), completed CFA Level I through the CFA Institute in the United States, and studied Strategic Retail Management at the Indian School of Business (ISB). He joined Nestle in 2005 and worked there until 2007, then joined Walmart for six years across India and Asia before joining 21st Century Fox as assistant vice president from 2014 to 2016. In 2017, he joined Dyson as head of finance for Asia, became general manager for Hong Kong, Macao and Taiwan between 2018 and 2021, and served as Dyson India's managing director from 2021 to 2025 before founding Foundry in March 2025.
