Rajasthan Royals captain Riyan Parag has invested Rs 2 crore in Proxgy, an innovation-led 'Make in India' product and technology company.
Parag will join other cricketers such as Kolkata Knight Riders captain Ajinkya Rahane who have invested in the company, which is one of the highest-funded startups.
"What drew me to Proxgy was the balance they've achieved between innovation and execution," Parag said in a release. "They're building products that stand out immediately, but what truly impressed me was the thinking behind them, especially the focus on safety and accessibility for blue-collar workers who operate in challenging environments every day. It's rare to see innovation so closely aligned with real, on-ground impact."
What is Proxgy and what do they do?
Proxgy is a deep-tech and Industrial Internet of Things (IoT) startup, and designs smart devices and wearables. Their innovations are targeted at improving workplace safety, enhancing connectivity, and improving productivity, with a particular focus on blue-collar and industrial workers.
Proxgy has won the Graham Bell Award, CES Innovation Awards, European Product Design Awards, and NASSCOM's League of 10, among others.
Established in 2020 by Pulkit Ahuja, the company first grabbed attention on Shark Tank India (Season 1).
Some of their popular products are: SmartHat (an advanced industrial safety helmet with two-way communication, built-in cameras, health-monitoring sensors, and a wearable gas-detection sensor), Sleefe (smart wearable device that easily attaches to any standard cap, transforming it into a powerful communication and safety monitoring tool) and AirHat & Lockator (specialised smart hardware solutions designed for logistics, warehousing, and mining operations).
During its appearance on Shark Tank India Season 1, the company was valued at approximately Rs 10 crore. The founders have since reported a 40x increase in a few years.
Proxgy's investor list reportedly includes Nikhil Kamath (co-founder of Zerodha), Peyush Bansal (Lenskart) and Bollywood actor Suniel Shetty.
