Cricketer Ajinkya Rahane, Zerodha's Nikhil Kamath back deeptech startup Proxgy

Cricketer Ajinkya Rahane has joined a group of prominent investors backing deeptech startup Proxgy as part of its ongoing $3 million Series A funding round. Rahane is joined by Zerodha co-founder Nikhil Kamath, actor Suniel Shetty, industrialist Vinod Duggar, and US-based CMG partner Manish Patel, among others.

“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,” Rahane said in an official statement.

Founded in 2020, the startup specialises in IoT-based solutions, offering smart wearables and safety products to blue-collar workers.

“This funding will enable us to expand globally and bring innovative solutions like SmartHat, and Sleefe, to industries that need them the most,” Pulkit Ahuja, Founder and CEO of Proxgy.

The SmartHat is a safety helmet with gas detection sensor, health monitoring systems, cameras, and connectivity protocols like 4G, WiFi, and LoRaWAN, while Sleefe is a wearable that makes any cap a smart cap.

“This ongoing round of Funding will be used to scale operations, expand Proxgy’s product offerings, and strengthen its international presence,” the company said in a statement.

The company has reported a ₹50 crore order book and plans to focus on oil and gas, mining, construction, and logistics industries.

The startup made its television debut on Season 1 of Shark Tank India in December 2021.

This year has seen several cricketers turn investors. South African cricketer AB de Villiers became a brand ambassador and key investor in Bengaluru-based health food brand Supply6 in July, though the investment amount remains undisclosed. In August, Indian cricketer Shubman Gill and Bollywood actress Preity G Zinta joined DRIVE FITT, a 24/7 member-based gym facility launched by Australian entrepreneurs, as co-founders and significant equity shareholders.