Proxgy, a deeptech startup based in Gurugram, has successfully secured $3 million in Series A funding. The round was led by Ajinkya Rahane, one of India’s well-known cricketers, who joined the investment alongside several other high-profile figures including Nikhil Kamath, Bollywood actor Suniel Shetty, industrialist Vinod Duggar and Manish Patel, a partner at CMG Group in the United States. The newly raised capital will help Proxgy expand its operations globally, enhance its product offerings and strengthen its presence in international markets. Proxgy is determined to lead innovation in the industrial IoT (Internet of Things) sector, focusing on improving safety, productivity and connectivity in various industrial environments.
Founded in 2020 by Pulkit Ahuja, Proxgy specializes in creating IoT-based solutions that address safety challenges in industries like oil and gas, mining and construction. The company’s flagship products include the SmartHat, a safety helmet designed with advanced technology. The SmartHat features gas detection sensors, health monitoring systems and real-time connectivity through 4G and WiFi. Another key product, Sleefe, is a wearable device that turns ordinary caps into smart communication tools, allowing workers to stay connected while keeping their hands free.
Proxgy’s business is rapidly growing, as the company generated ₹8.9 crore in revenue during FY24 and it expects this figure to reach ₹40 crore in FY25. Proxgy has secured orders worth ₹50 crore, positioning it as a leading player in the industrial IoT sector. Ajinkya Rahane expressed his excitement about the investment, mentioning that Proxgy’s focus on precision and innovation aligns with his own values. Pulkit Ahuja said that the investment reflects strong support for the company’s vision. He also emphasized that Proxgy aims to enhance safety and productivity across industries by integrating advanced IoT technologies. With the new funding, Proxgy is now well-equipped to expand its operations and drive further innovation in the industrial IoT space.
