In its ongoing $3 million Series A funding round, Indian cricketer Ajinkya Rahane has contributed to Proxgy, an IoT innovator that specializes in safety, connectivity, and productivity solutions. Manish Patel, Vinod Duggar, Suniel Shetty, and Nikhil Kamath are among the other significant investors in the round.
In September 2024, Entrackr was the only source to report on the Series A round.
Additionally, in October of last year, the Gurugram-based company raised Rs 16 crore ($2 million) in a pre-series A round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, and others.
Proxgy will use the additional funds to grow its business, increase the range of products it offers, and fortify its global footprint.
Pulkit Ahuja founded Proxgy in 2020 with the goal of creating cutting-edge IoT-based solutions. Additionally, the company sells safety gear and smart wearables that are intended to improve workplace efficiency and safety, especially for blue-collar workers.
Winners of the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa, the Gurugram-based company has represented India internationally.
In FY24, the company reported an 800% increase in revenue and an order book worth Rs 50 crore.
