Proxgy, an IoT innovator specializing in safety, connectivity, and productivity solutions, has successfully attracted funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A round. Other key participants in the round include notable names like Nikhil Kamath, Suniel Shetty, Vinod Duggar, and Manish Patel.
Earlier, the Gurugram-based startup raised ₹16 crore ($2 million) in a pre-Series A round in October last year. That round was led by LetsVenture, Planify Angel Fund, and Mach Tech Fund, among others.
The new funding will support Proxgy’s plans to scale operations, enhance its product portfolio, and bolster its global footprint. Founded in 2020 by Pulkit Ahuja, Proxgy is at the forefront of IoT innovation, focusing on smart wearables and safety products aimed at improving workplace safety and productivity, especially for blue-collar workers.
Proxgy has gained international acclaim, representing India on global platforms. The company has won prestigious accolades, including the European Product Design Award, the Most Innovative Product award at CES Las Vegas, and the Most Promising Start-Up recognition at GITEX Africa.
The company’s growth trajectory is remarkable, reporting an 800% revenue increase in FY24. With a ₹50 crore order book, Proxgy is poised to continue its upward momentum, leveraging its funding to drive innovation and expand its reach.
