Ajinkya Rahane Backs Proxgy in Successful Series A Funding Round

Proxgy Secures Funding from Ajinkya Rahane

Proxgy, an innovative IoT company dedicated to enhancing safety, connectivity, and productivity, has successfully attracted investment from Indian cricket star Ajinkya Rahane as part of its ongoing $3 million Series A funding round. Notable participants in this round include Nikhil Kamath, Suniel Shetty, Vinod Duggar, and Manish Patel.

The startup Superb initially disclosed details of the Series A funding in September 2024.

Based in Gurugram, Proxgy previously garnered Rs 16 crore ($2 million) in a pre-Series A funding round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, among others, in October of the previous year.

The newly secured funds will be allocated towards expanding operations, diversifying Proxgy’s product range, and enhancing its global footprint.

Company Overview

Founded in 2020 by Pulkit Ahuja, Proxgy is dedicated to creating state-of-the-art IoT-based solutions. The company provides smart wearables and safety products aimed at improving safety and workplace efficiency, especially for blue-collar workers.

Acknowledgements and Achievements

Proxgy has represented India on international platforms and has been recognised with several prestigious awards, including:

• European Product Design Award
• Most Innovative Product at CES Las Vegas
• Most Promising Start-Up at GITEX Africa

Furthermore, the company has reported an impressive 800% revenue growth in FY24, boasting a substantial order book of Rs 50 crore.