Angel Investments
IIoT startup Proxgy raises Rs.16-Cr from LetsVenture, Planify Angel Fund, others
Gurugram-based Industrial Internet of Things (IIoT) startup Proxgy has raised INR 16 crore (about USD 2 million) in a pre-Series-A funding round structured as a blend of primary and secondary fund infusions, at a pre-money valuation of INR 150 crore (about USD 18 million). The funding round was led by LetsVenture, Planify Angel Fund, Mach Tech Fund, Cogniphy Angel Fund, Madhuram Papers Family Office, and AKGVG & Associates. Proxgy aims to fulfil a current order book of over INR 60 crore from clients, including ICICI Bank, Bank of India, and Bank of Baroda.
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