Proxgy, an Internet of Things (IoT) solutions provider focused on enhancing safety, connectivity, and productivity announced that cricketer Ajinkya Rahane has participated in its ongoing $3 million Series A funding round.

Rahane joins other prominent investors in the firm, such as Manish Patel, actor Suniel Shetty, industrialist Vinod Duggar, and co-founder of Zerodha Nikhil Kamath.

Established in 2020 by Pulkit Ahuja, Proxgy is proud of its "Make in India" technological solutions, which use proprietary software, patented IoT devices, and an AI-powered software-as-a-service (SaaS) platform.

The new funds will be used by the business to increase operations, broaden its range of products, and fortify its global footprint. With a Rs 50 crore order book and revenue growth in FY24, Proxgy intends to enter the mining, construction, logistics, and oil and gas sectors.

"This funding will enable us to expand globally and bring innovative solutions like SmartHat, Sleefe, and Lockator to industries that need them the most,” says Ajinkya.

“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,” adds Ajinkya.

One of the success stories from the inaugural season of Shark Tank India, a business reality show, is Proxgy and its founder, Ahuja.