IoT Startup Proxgy Gets Investment from Ajinkya Rahane

Proxgy, an award-winning IoT innovator specializing in safety, connectivity, and productivity solutions, has announced that Ajinkya Rahane, one of India’s most celebrated cricketers, has invested in its ongoing $3 million Series A funding round. Other key investors in the round include billionaire entrepreneur Nikhil Kamath, Bollywood superstar Suniel Shetty, industrialist Vinod Duggar and key investor Manish Patel, among others.

Speaking about his decision to invest, Ajinkya Rahane said: "Having represented India on the global cricketing stage, I know the importance of discipline, innovation, and precision. Proxgy reflects these values, and their ground breaking products have the potential to redefine safety and productivity in industrial environments. I am thrilled to support their journey and be a part of their mission."

Pulkit Ahuja, Founder & CEO of Proxgy, expressed his excitement: "Ajinkya Rahane’s support, along with that of Nikhil Kamath, Suniel Shetty, and Manish Patel, is a huge endorsement of our vision. This funding will enable us to expand globally and bring innovative solutions like SmartHat, Sleefe, and Lockator to industries that need them the most. Our journey has just begun, and the best is yet to come."

Manish Patel, who is a Partner at CMG Group based out of the United States, added: "Proxgy’s innovative products like SmartHat and Sleefe address critical gaps in safety and productivity across industries. Their potential to scale globally is immense, and I am confident they will set new benchmarks in industrial IoT solutions."

This ongoing round of funding will be used to scale operations, expand Proxgy’s product offerings, and strengthen its international presence. The company recently reported an impressive 800% revenue growth in FY24, with a 50 crore INR order book, and has ambitious plans to disrupt industries such as Oil & Gas, Mining, Construction, and Logistics.