Proxgy Secures $3 Million Series A Funding Backed by Ajinkya Rahane
- Chinmay
- December 30, 2024
- Industrial IoT, News
- Ajinkya Rahane, Gurugram startups, industrial IoT, IoT innovation, Proxgy, safety solutions, Series A funding, Sleefe, SmartHat, wearable technology
- 0 Comments
Proxgy, a Gurugram-based deeptech startup, has successfully raised $3 million in Series A funding. The round was led by renowned cricketer Ajinkya Rahane, with notable contributions from Nikhil Kamath, Bollywood actor Suniel Shetty, industrialist Vinod Duggar, and Manish Patel, partner at CMG Group in the United States. The funding is set to drive Proxgy’s global expansion, enhance its product portfolio, and strengthen its international market presence.
Founded in 2020 by Pulkit Ahuja, Proxgy is at the forefront of industrial IoT innovation, focusing on improving safety, productivity, and connectivity in high-risk industries like oil and gas, mining, and construction. The company’s flagship products include the SmartHat, an advanced safety helmet equipped with gas detection sensors, health monitoring systems, and real-time connectivity via 4G and WiFi. Another standout product, Sleefe, transforms ordinary caps into smart communication tools, enabling hands-free connectivity for workers in challenging environments.
Proxgy’s business is on an impressive growth trajectory. The company reported ₹8.9 crore in revenue for FY24 and is projecting ₹40 crore for FY25. With orders worth ₹50 crore already secured, Proxgy is emerging as a leader in the industrial IoT sector.
Ajinkya Rahane, expressing his excitement about the investment, highlighted Proxgy’s focus on precision and innovation, which resonate with his personal values. Founder Pulkit Ahuja stated that the investment underscores strong support for Proxgy’s vision of enhancing safety and productivity in industrial settings through advanced IoT technologies.
With this new round of funding, Proxgy is well-positioned to expand its operations globally and continue driving innovation in industrial IoT solutions.
