Indian cricketer Ajinkya Rahane has joined the growing list of high-profile investors backing innovative startups.
On December 25, 2024, Rahane announced his investment in Proxgy, a cutting-edge deeptech startup specializing in Internet of Things (IoT) solutions.
The ongoing Series A funding round, totaling $3 million, has also attracted notable contributors such as Zerodha co-founder Nikhil Kamath, Bollywood actor Suniel Shetty, industrialist Vinod Duggar, and investor Manish Patel.
Proxgy: A Deeptech Powerhouse
Founded in 2020 by Pulkit Ahuja, Proxgy is revolutionizing workplace safety and productivity with its innovative IoT-based solutions. The company’s standout products include:
- SmartHat: A safety helmet equipped with advanced gas detection sensors.
- Sleefe: A wearable device that converts ordinary caps into smart caps for real-time monitoring.
- Lockator: A groundbreaking device designed to enhance workplace safety.
These solutions have garnered significant market interest, with Proxgy achieving an impressive order book of ₹50 crore (approximately $6 million) for FY24.
The company aims to utilize the newly raised funds to scale operations, expand its product portfolio, and strengthen its international presence.
Rahane’s Perspective
Expressing his excitement about the investment, Ajinkya Rahane highlighted how Proxgy’s commitment to innovation and safety resonates with his values as a professional athlete.
“Their groundbreaking products have immense potential to improve safety and productivity in industrial environments,” Rahane stated.
He emphasized the importance of supporting startups that bring discipline and innovation to the forefront.
What This Means for Proxgy
Proxgy’s ability to attract investments from a diverse pool of high-profile individuals underscores its potential for growth.
With the backing of Rahane and other investors, the startup is poised to become a leader in the IoT industry.
The funding will play a crucial role in scaling its operations, meeting growing market demand, and establishing a stronger foothold globally.
The Bigger Picture
Ajinkya Rahane’s involvement in Proxgy is a testament to the growing trend of athletes and celebrities investing in innovative technology ventures.
This collaboration between sports and tech showcases the ability of cross-industry partnerships to drive meaningful change and foster innovation.
Stay tuned for more updates on Proxgy’s journey as it continues to reshape the IoT landscape with its pioneering solutions.
