- ByStartupStory | December 25, 2024
Deeptech startup Proxgy has announced the participation of Indian cricketer Ajinkya Rahane in its ongoing $3 million Series A funding round. The funding round also saw contributions from notable investors, including Nikhil Kamath, Bollywood superstar Suniel Shetty, industrialist Vinod Duggar, and key investor Manish Patel.
“This funding will enable us to expand globally and bring innovative solutions like SmartHat, Sleefe, and Lockator to industries that need them the most,” said Pulkit Ahuja, Founder and CEO of Proxgy.
Proxgy plans to use the newly raised funds to scale its operations, expand its product portfolio, and strengthen its global presence. The Gurugram-based company, which specializes in smart helmets and patented industrial products, reported impressive multifold revenue growth in FY24, backed by a Rs 50 crore order book.
Ajinkya Rahane, sharing his thoughts on the investment, 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.”
Proxgy develops cutting-edge solutions for industries like mining, oil and refinery, defence, surveillance, and road safety. Its flagship products, SmartHat and Lockator, have earned recognition for their potential to enhance safety and efficiency in high-risk industrial environments.
The startup’s funding announcement comes amidst a wave of athlete-backed ventures. Earlier this year, South African cricketer AB De Villiers joined Bengaluru-based health food brand Supply6 as a brand ambassador and investor. In August, Australian entrepreneurs Deke Smith and Mark Sellar introduced their venture ‘DRIVE FITT’ in India, featuring Bollywood actress Preity G Zinta and Indian cricketer Shubman Gill as co-founders with significant equity stakes in the company.
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