Proxgy, a Gurugram-based IoT innovator specializing in safety and productivity solutions, has secured funding from Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round.
Other notable investor participants include Zerodha co-founder Nikhil Kamath, actor Suniel Shetty, industrialist Vinod Duggar, and key investor Manish Patel.
Proxgy plans to utilize the fund to expand operations, broaden its product offerings, and enhance its international footprint.
This follows a Rs 16 crore ($2 million) pre-Series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others in October 2023.
The company has raised a total of $5.74 million over six funding rounds from 41 investors.
Founded by Pulkit Ahuja in 2020, Proxgy develops innovative IoT-based solutions, including smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers.
Its flagship product, SmartHat, is a safety helmet featuring advanced sensors, health monitoring systems, cameras, and connectivity protocols like 4G and WiFi.
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Ajinkya Rahane commented on his investment, stating, “Proxgy’s products have the potential to redefine safety and productivity in industrial environments.”
Founder and CEO Pulkit Ahuja expressed enthusiasm for the support from Rahane and other investors, noting that the funding will enable Proxgy to expand globally.
Proxgy has gained international recognition with accolades such as the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa.
