- Notable investors in this round also include Nikhil Kamath, Suniel Shetty, Vinod Duggar, and prominent backer Manish Patel, among others.
- The funds from this round will be utilized to scale operations, broaden Proxgy’s product portfolio, and enhance its global footprint.
Gurgaon, December 25, 2024 – Proxgy, a trailblazing IoT innovator focused on enhancing safety, connectivity, and productivity across industries, has announced that renowned cricketer Ajinkya Rahane has joined its $3 million Series A funding round. Other notable investors in this round include billionaire entrepreneur Nikhil Kamath, Bollywood icon Suniel Shetty, industrialist Vinod Duggar, and U.S.-based investor Manish Patel, among others.
Ajinkya Rahane, known for his discipline and precision on the global cricket stage, shared his enthusiasm for Proxgy:
“Proxgy embodies the values I hold dear—discipline, innovation, and precision. Their groundbreaking products have the power to revolutionize safety and productivity in industrial environments. I’m proud to support their journey and be a part of their mission.”
Pulkit Ahuja, Founder & CEO of Proxgy, welcomed the backing of such prominent investors “Having Ajinkya Rahane, Nikhil Kamath, Suniel Shetty, and Manish Patel on board is a testament to our vision. This funding will help us expand globally and introduce cutting-edge solutions like SmartHat, Sleefe, and Lockator to industries where they are most needed. We are just at the beginning of a transformative journey.”
Manish Patel, Partner at CMG Group, added “Proxgy’s innovative solutions address critical gaps in safety and productivity, particularly in high-risk industries like Oil & Gas and Mining. Their global scalability is evident, and I’m confident they will set new standards in industrial IoT solutions.”
Driving Innovation in Industrial IoT
Proxgy’s funding comes on the heels of remarkable growth. The company reported an 800% revenue increase in FY24 and holds a robust ₹50 crore order book. Their flagship products, including SmartHat, a wearable safety device for hazardous work environments, and Sleefe, a connectivity and productivity enhancer, have gained traction in industries like Oil & Gas, Mining, Construction, and Logistics.
Scaling for a Global Impact
Proxgy plans to leverage the Series A funding to:
- Expand its product portfolio to address evolving industrial challenges.
- Scale operations across international markets.
- Strengthen its global presence, making its solutions accessible to industries worldwide.
Pulkit Ahuja concluded “We’re on a mission to redefine safety and productivity in industrial settings. With this strong backing, we’re poised to disrupt industries and bring impactful IoT solutions to the global stage. The best is yet to come.”
