Ajinkya Rahane Invests in Proxgy’s Series A Funding Round

Gurgaon – [December 2024] – 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.

Related: Spacetech startup InspeCity Collaborates with Japanese Orbital Lasers to Tackle Space Debris

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 groundbreaking 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, 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. Proxgy has ambitious plans to disrupt industries such as Oil & Gas, Mining, Construction, and Logistics.

Rahane’s illustrious cricketing career includes leading India to a historic Test series win in Australia, being a key player across various teams in the Indian Premier League, and representing India in all formats of the game. His contributions to Indian cricket, both as a leader and player, have made him a respected figure on and off the field.

Proxgy, founded by Pulkit Ahuja in 2020, is revolutionizing industries with its “Make in India” technology solutions, leveraging patented IoT devices, proprietary software, and an AI-driven SaaS platform. The company has represented India globally, winning accolades such as the European Product Design Award, Most Innovative Product at CES Las Vegas, and Most Promising Start-Up at GITEX Africa. Proxgy and its founder are also being featured as one of the top success stories from Shark Tank India Season 1 on the upcoming Shark Tank India Season 4, as highlighted in multiple trailers by Sony.