In a significant move highlighting the growing intersection of sports personalities and technology investments, Gurugram-based deeptech startup Proxgy announced that former Indian cricket team vice-captain Ajinkya Rahane has joined its ongoing $3 million Series A funding round. The investment marks Rahane’s strategic entry into the industrial safety technology sector, alongside other notable investors including Zerodha co-founder Nikhil Kamath, Bollywood actor Suniel Shetty, industrialist Vinod Duggar, and veteran investor Manish Patel.
Proxgy, which specializes in developing smart helmets and safety solutions for high-risk industrial environments, has established itself as a pioneering force in the B2B and B2G (Business-to-Government) sectors. The company’s impressive growth trajectory is evidenced by its robust order book of Rs 50 crore in FY24, demonstrating strong market demand for its innovative safety solutions.
“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. The company’s product portfolio includes patented technologies designed specifically for critical sectors such as mining, oil and refinery, defence, surveillance, and road safety.
Rahane’s investment decision appears to be driven by both commercial potential and alignment with his professional values. “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,” the cricketer stated.
The significance of this investment extends beyond the immediate funding impact. While Proxgy is based in Gurugram, its success story presents valuable lessons for Tamil Nadu’s burgeoning deeptech ecosystem. The state, known for its strong manufacturing base and engineering talent pool, stands to benefit from similar innovations in industrial safety and efficiency. Tamil Nadu’s startups could draw inspiration from Proxgy’s ability to attract diverse investors and its focus on solving critical industrial challenges through technology.
Industry analysts note that Proxgy’s success in securing high-profile investors could pave the way for increased attention to deeptech startups in South India’s industrial corridors. The company’s growth model, combining innovative technology with strong B2B and B2G partnerships, offers a blueprint for Tamil Nadu’s aspiring entrepreneurs in the industrial technology sector.
The investment follows a growing trend of sports personalities backing innovative startups. Recent examples include South African cricketer AB De Villiers’s investment in Bengaluru-based health food brand Supply6, and Indian cricketer Shubman Gill’s co-founding role in the fitness venture DRIVE FITT, alongside Bollywood actress Preity G Zinta.
Looking ahead
Proxgy plans to utilize the fresh capital for scaling operations, expanding its product portfolio, and strengthening its global presence. The company’s success in attracting both institutional and celebrity investors suggests growing confidence in India’s deeptech sector and its potential to address critical industrial challenges.
