December 27, 2024
Indian IoT Startup Proxgy Secures $3M Series A Funding to Revolutionize Safety and Productivity with Innovative Solutions
Gurgaon, Haryana, India –
Proxgy, an IoT startup dedicated to simplifying everyday challenges through innovative technology, has raised $3M in a Series A funding round announced on December 26, 2024. The round was led by international cricketer Ajinkya Rahane, with participation from prominent investors, including Nikhil Kamath of Zerodha, Bollywood actor Suniel Shetty, Manish Patel, and Vinod Dugar.
About Proxgy
Proxgy, founded in July 2020 by Pulkit Ahuja, operates as an everywhere-as-a-service aggregation platform. Its proprietary technology, paired with real-time human interaction, provides immersive, on-demand experiences through a user-friendly application. With this funding, Proxgy aims to expand its global presence, enhance its product lineup, and scale operations to meet growing demand.
Proxgy leverages patented IoT devices, AI-driven SaaS platforms, and proprietary software to develop solutions such as the SmartHat, Sleefe, Lockator, Birdbox, AirHat, and AudioPod. These innovations are tailored to enhance safety, connectivity, and productivity across industries, addressing critical gaps in industrial operations. Proxgy has reported significant traction, including an 800% revenue growth in FY24 and an order book valued at INR 50 crore.
Purpose of financing
The fresh capital will be utilized to scale operations, expand product offerings, and strengthen Proxgy’s global reach. The company plans to focus on industries that require cutting-edge safety and productivity tools, enabling it to meet the demands of an evolving industrial landscape.
Investor Insights
Ajinkya Rahane shared his enthusiasm for Proxgy’s mission, stating:
"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."
Manish Patel, partner at CMG Group, highlighted the startup's global potential: "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."
Looking Ahead
With this funding, Proxgy is poised to solidify its position as a leader in industrial IoT solutions, driving innovation and setting new standards in safety and productivity worldwide.
For updates, visit Proxgy on LinkedIn