Proxgy, a deep tech startup, has raised $2 Mn (INR 16 Cr) in a pre-Series A round of funding, which was led by LetsVenture, Planify Angel Fund, Mach Tech Fund, Cogniphy Angel Fund, Madhuram Papers Family Office, and AKGVG & Associates, as well as its current investors. Infusions from primary and secondary funds were combined in the funding round.
The Gurugram-based business said the fresh capital will be utilised to improve Proxgy’s industrial IoT facilities development of new products, R&D, SaaS expansion, and functioning capacities to meet customer demands and boost its presence in the market.
“This capital infusion not only fortifies our capacity to cater to our current clientele but also paves the way for acquiring new partnerships for our ‘Made in Bharat’ innovative solutions,” Pulkit Ahuja, the CEO of Proxgy said.
Currently, it serves companies in the oil and gas, mining industries, producing goods, factories, worker security, insurance coverage, compensation for employees, supervisors, inspections, sectors.
According to the start-up, its clients include ICICI Bank, Bank of India, and Bank of Baroda.
Proxgy, a technology aggregator founded in 2020 by Pulkit Ahuja, works in the area of innovative near-world technology solutions that make users’ daily struggles easier and open up a whole new world of opportunities and possibilities.
In order to offer its customers a specialised and cutting-edge Experiential Discovery platform in a live and assisted manner, Proxgy is engaged in IoT, AI, and NLP.