Riyan Parag invests in Proxgy, a deeptech startup.
Indian cricketer Riyan Parag, captain of the Rajasthan Royals IPL team, has invested ₹2 Cr in Proxgy, a Delhi NCR-based deeptech startup specializing in IoT solutions. This investment places Parag alongside other notable investors in Proxgy, including cricketer Ajinkya Rahane and Zerodha cofounder Nikhil Kamath.
Founded in 2020 by Pulkit Ahuja, Proxgy focuses on developing smart wearables and safety products aimed at enhancing workplace safety and operational efficiency for blue-collar workers. The startup operates with a technology stack comprising an industrial IoT hardware layer, a software middleware layer, and a SaaS subscription layer. Proxgy serves clients across sectors such as power, fintech, logistics, warehousing, construction, mining, oil and gas, and banking.
Proxgy’s core product offerings include SmartHat, a smart safety helmet; ProHat & Hat+ Band, devices that turn regular helmets into smart helmets; Lockator, a smart lock for logistics; Sleefe, a smart headset for hands-free communication; AudioPod / AudioCube, a 4G-enabled payment device; and BirdBox, a portable security surveillance device.
Recently, Proxgy was selected for Maruti Suzuki’s Incubation Program (MSIP) and secured ₹1 Cr in funding on Shark Tank India from Peyush Bansal and Ashneer Grover. To date, Proxgy has raised approximately $7 million from investors, including Michael Dias & Associates and LetsVenture.
Proxgy competes with companies like Jarsh Safety and KARAM in the industrial IoT and smart safety solutions space. This investment by Parag underscores the growing interest in deeptech startups focused on enhancing safety and efficiency in industrial sectors.
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