Delhi NCR-based startup Proxgy has again making others believe that deeptech is a sector to watch in India. It has secured fresh investment from Indian cricketer Ajinkya Rahane and it is a part of its $3 million (INR 25.6 crore) Series A funding round. It is now sending a clear message that the Indian deeptech segment is thriving.
The funding round is about funding as well as about the growing appeal of Proxgy. Prominent figures like Zerodha’s Nikhil Kamath, actor Sunil Shetty, industrialist Vinod Duggar and CMG Group’s Manish Patel have also backed the company. Such diverse support reveals the confidence in the vision of Proxgy.
Proxgy was founded in 2020 and mainly focuses on IoT-based solutions for workplace safety and efficiency. Its products include SmartHat, Sleefe and Lockator. All its products cater to industries where safety is important. CEO Pulkit Ahuja said that the funding is to help the company in global expansion and bring these innovative solutions to industries.
The journey of Proxgy journey is highly inspiring and more after gaining recognition on Shark Tank India where it secured INR 1 crore. The startup transitioned into a purely B2B model this pivot was strategic as it aligns with the growing demand for industrial safety solutions. Its revenue growth from INR 8.9 crore in FY24 to a projected INR 40 crore in FY25 reveals the potential of the market.
The story of Proxgy is bigger than its financials. It reflects the growing momentum of India’s deeptech ecosystem. Startups like Proxgy are not just solving local problems, but they are also innovating for global markets. Deeptech has received 10.4% of the $8.7 billion invested in Indian startups in 2024.
Deeptech startups are addressing challenges across healthcare, clean energy and industrial safety in areas that traditional solutions often overlook. The rise of Proxgy is a reminder that India’s tech ecosystem is creating technologies that transform industries.
Proxgy is paving the way for other deeptech startups to dream big. The journey won’t be without challenges, but with the right support and vision, deeptech might just be India’s next big success story.
