Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has received investment from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round.
Other key investors in the round include billionaire entrepreneur Nikhil Kamath, Bollywood superstar Suniel Shetty, industrialist Vinod Duggar and key investor Manish Patel, among others.
The funds raised will be used to scale its operations, expand product offerings, and strengthen its international presence.
In October last year, Proxgy raised $2 million in a pre-Series A funding round, with participation from investors such as LetsVenture, Planify Angel Fund, Mach Tech Fund, and Madhuram Papers family office, among others.
Pulkit Ahuja, Founder & CEO of Proxgy, said, “Ajinkya Rahane’s support, along with that of Nikhil Kamath, Suniel Shetty, and Manish Patel, is a huge endorsement of our vision. This funding will enable us to expand globally and bring innovative solutions like SmartHat, Sleefe, and Lockator to industries that need them the most. Our journey has just begun, and the best is yet to come.”
Speaking about his decision to invest, Ajinkya Rahane said, “Having represented India on the global cricketing stage, I know the importance of discipline, innovation, and precision. Proxgy reflects these values, and their groundbreaking products have the potential to redefine safety and productivity in industrial environments. I am thrilled to support their journey and be a part of their mission.”
Manish Patel, who is a Partner at CMG Group based out of the United States, said, “Proxgy’s innovative products like SmartHat and Sleefe address critical gaps in safety and productivity across industries. Their potential to scale globally is immense, and I am confident they will set new benchmarks in industrial IoT solutions.”
Founded in 2020 by Ahuja, Proxgy is a deeptech startup, which specialises in IoT-based solutions and provides smart wearables and safety products designed to enhance workplace safety and efficiency of blue-collar workers.
The company recently reported an impressive 800% revenue growth in FY24, with a ₹50 crore order book, and has ambitious plans to disrupt industries such as Oil & Gas, Mining, Construction, and Logistics.
