Proxgy Secures ₹2 Cr from Cricketer Riyan Parag

Proxgy, a Gurugram-based deeptech innovator focused on enhancing safety for frontline workers, has attracted a significant investment of ₹2 crore (approximately $240,000) from prominent Indian cricketer Riyan Parag. This capital infusion underscores growing confidence in Proxgy's mission to leverage advanced technology for industrial safety and operational efficiency.

The company, established in 2020 by Pulkit Ahuja and Harish Verma, operates at the intersection of industrial IoT hardware, middleware software, and SaaS solutions. Proxgy's product suite is engineered to address critical safety gaps in sectors like construction, mining, and logistics, where blue-collar employees frequently face hazardous conditions. Offerings include intelligent safety helmets with hazard detection, GPS-enabled smart logistics locks, hands-free communication headsets, and 4G payment devices.

Parag's investment positions him alongside a notable group of backers who have previously supported Proxgy. This distinguished roster includes fellow cricketer Ajinkya Rahane, Zerodha co-founder Nikhil Kamath, Bollywood actor Suniel Shetty, and popular Shark Tank India personalities Peyush Bansal and Ashneer Grover. These endorsements highlight the startup's appeal across diverse fields, from sports and entertainment to finance and entrepreneurship.

Proxgy's recent appearance on Shark Tank India generated considerable attention, culminating in a ₹1 crore commitment from investors Peyush Bansal and Ashneer Grover. This followed a substantial $3 million Series A funding round in September 2024, which saw participation from thirteen investors. To date, the company has successfully raised approximately $7 million in total funding, signaling strong market traction and investor appetite for its specialized solutions.

The market for industrial safety technology is experiencing robust growth, driven by increasing regulatory scrutiny, a heightened awareness of worker well-being, and the adoption of digital transformation initiatives across industries. Proxgy's deeptech approach, integrating hardware and software for real-time monitoring and communication, directly addresses these evolving demands. The company's focus on blue-collar workers, a segment often underserved by technological advancements, presents a unique value proposition.

The strategic investment from Riyan Parag not only provides crucial capital but also amplifies Proxgy's visibility within a key demographic. As cricket enjoys immense popularity in India, Parag's involvement can significantly boost brand recognition and consumer trust. This partnership is expected to accelerate Proxgy's expansion efforts and further solidify its position as a leader in the industrial safety wearable market.

Proxgy's innovative solutions, such as the SmartHat and Lockator, are designed to provide actionable insights and immediate alerts, thereby reducing accident rates and improving overall productivity. The company's comprehensive technology stack, spanning from embedded hardware to cloud-based analytics, offers a scalable and integrated platform for businesses seeking to modernize their safety protocols and operational management.