Angel Investments
IoT-based solutions provider Proxgy raises $2.2 M
Gurugram-based deep-tech startup Proxgy has raised around USD 2.2 million at a post-money valuation of around INR 140 crore (USD 16.86 million) in a funding round led by Manish Patel (who invested INR 13.23 crore). Kuldeep Mathur, Nikhil Kamath, Suniel Shetty, Shruthi Bothra, and others contributed the rest.Proxgy will issue 13,998 compulsorily convertible preferred shares (CCPS) at INR 13,230 each to raise INR 18.51 crore.The company will use the new funds for capital expenditures, day-to-day expenses, working capital requirements, and growth.Founded in 2020 by Pulkit Ahuja, Proxgy is focused on developing IoT-based solutions. The company also offers smart wearables and safety products designed to enhance workplace safety and efficiency, particularly for blue-collar workers.
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