Proxgy is a deeptech startup that is making significant strides in the field of Internet of Things (IoT) solutions for blue-collar workers. Founded in 2020, Proxgy focuses on creating innovative technologies and smart wearables that enhance workplace safety and efficiency. With a unique three-layered tech stack, including an Industrial IoT hardware layer, a software middle layer, and a Software as a Service (SaaS) subscription layer, Proxgy is committed to addressing the challenges faced by workers in industries such as logistics, warehousing, construction, mining, oil & gas, and banking.
| Table of Contents |
|---|
| Company Background |
| Financial Performance |
| Product Offerings |
| Industry Recognition and Business Strategy |
| Conclusion |
| FAQ |
Company Background
Founded by Pulkit Ahuja, Proxgy emerged in the tech landscape with a vision to cater to the needs of blue-collar workers through advanced solutions. The startup has oriented its focus on various sectors, including logistics, warehousing, construction, mining, oil & gas, and banking. Proxgy has developed a suite of proprietary IoT products and software tools tailored for these industries by addressing distinct challenges faced on-site.
Financial Performance
In a notable funding round, Proxgy raised approximately $6 million from several distinguished investors, including Peyush Bansal of Lenskart, Suhail Sameer of BharatPe, Nikhil Kamath of Gruhas, and Bollywood actor Suniel Shetty. The company reported revenues of INR 8.9 crore in FY24, achieving a monthly recurring revenue of INR 70 lakh. Looking ahead, Proxgy anticipates achieving a top line of INR 40 crore in FY25, with a strong emphasis on profitability.
Product Offerings
Proxgy’s product portfolio is designed to tackle various operational challenges in blue-collar environments. Key offerings include:
| Product | Description |
|---|---|
| SmartHat | A smart wearable that monitors worker safety and environmental conditions. |
| Sleefe | An innovative device to track worker movements and ensure compliance with safety protocols. |
| Lockator | A smart locking system that enhances security in industrial settings. |
| AudioPod | A communication device designed to facilitate seamless interaction among workers. |
These products exemplify Proxgy’s commitment to improving the experience and safety of blue-collar workers in challenging environments.
Industry Recognition and Business Strategy
Proxgy’s innovative approach has garnered considerable attention, leading to its feature on Shark Tank India, where it made a successful pivot towards a B2B model. This shift emphasizes the company’s commitment to providing tailor-made solutions that cater to specific industry needs, enhancing its relevance across various sectors. Proxgy is now well-positioned to not only offer cutting-edge IoT products but also to facilitate digital transformations within workplaces that support a safe and efficient working environment.
Conclusion
Proxgy is at the forefront of revolutionizing blue-collar work culture through its innovative IoT solutions. By focusing on enhancing workplace safety and efficiency, the company is shaping the future of worker engagement across multiple industries. Its rapid growth trajectory and strategic investments signify a promising future, as Proxgy seeks to redefine how industrial and blue-collar workers interact with their environments through technology.
FAQ
- What is Proxgy?
Proxgy is a deeptech startup specializing in IoT-based solutions and smart wearables designed specifically for blue-collar workers. - When was Proxgy founded?
Proxgy was founded in 2020 by Pulkit Ahuja. - What are the primary industries Proxgy focuses on?
Proxgy focuses on logistics, warehousing, construction, mining, oil & gas, and banking. - What products does Proxgy offer?
Key products include SmartHat, Sleefe, Lockator, and AudioPod. - What was Proxgy’s revenue in FY24?
Proxgy reported a revenue of INR 8.9 crore in FY24.
