Ajinkya Rahane invests in Series A round of Proxgy
Ajinkya Rahane, an Indian cricketer, recently entered the startup investment space. This $3 million Series A funding benefits Gurugram-based IoT player Proxgy greatly. Ajinkya Rahane invests in Proxgy. Shibulal joined the round, boosting Proxgy’s appeal with revolutionary safety solutions.
Rahane joins other investors like Nikhil Kamath, Suniel Shetty, and Vinod Duggar. Founded in 2020 by Pulkit Ahuja, the company achieved remarkable growth. Proxgy’s FY24 revenue grew 800% with a ₹50 crore order book.
Moreover, the funds will expand operations, develop products, and grow Proxgy’s presence globally. Rahane stated, “Representing India globally taught me the significance of continuous innovation.” Proxgy creates innovative products redefining safety in mining, defence, and surveillance industries.
Proxgy: Leading Innovation in IoT and Industrial Safety
Specialising in IoT-based safety and productivity solutions, the company’s flagship products include the SmartHat, Sleefe, and Lockator. These devices are designed to ensure worker safety in high-risk environments.
The company has won the European Product Design Award and the title of Most Promising Start-Up at GITEX Africa. At CES Las Vegas, its product line stood out as the Most Innovative Product.
This remarkable progress has also translated into impressive financial growth. In FY24, the company reported an 800% revenue increase. The ₹50 crore order book reflects the growing demand for Proxgy’s cutting-edge solutions across industries like oil, mining, and road safety.
Ajinkya Rahane invests in Proxgy
The proceeds from this funding round will significantly impact Proxgy’s growth. The company plans to use the funds to scale operations and expand its global presence. With the IoT sector booming, Proxgy’s international ambitions appear well-timed and achievable.
Proxgy also plans to diversify its product offerings to cater to various industries. The emphasis on innovation ensures that its products, like the SmartHat, meet the unique needs of sectors requiring high safety standards. Founder Pulkit Ahuja said, “These funds will help us bring innovative solutions to industries globally.”
The company has already shown its potential by creating solutions for industrial safety and connectivity. Ajinkya Rahane’s investment brings not only capital but also credibility, given his disciplined and precise approach on the cricket field.
Proxgy’s Vision for the Future
Proxgy’s journey from a startup to an industry leader reflects its commitment to innovation and excellence. Its collaboration with investors like Rahane showcases the growing synergy between sports and technology ventures.
The future looks bright for Proxgy and the firm has ventured into furthering its expansion targets on the international market. This makes the company one to watch in the industrial safety domain due to its commitment towards addressing real-world issues through IoT applications. It is good to have Rahane endorse the company further placing it in a strong pedestal as a dependable innovator.
This case highlights the success story of Proxgy showing that Innovative thinking really works. It is still growing and it becomes an example of the startups that seek to make a positive difference.
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