Two Visionaries : Safety First, Innovation Always!

Proxgy was founded in 2020 by Pulkit Ahuja, who serves as the CEO. The company, based in Gurugram, India, originated from Ahuja’s vision to harness the potential of IoT to improve safety for industrial workers.

Pulkit Ahuja is a seasoned entrepreneur, author, and inventor known for founding three startups and authoring two books.Pulkit has an impressive track record in innovation and leadership. His entrepreneurial journey includes multiple patented technologies and significant industry accolades, such as being listed among the ‘Times 40 under 40’ for 2023, receiving recognition from the Economic Times as an Inspiring Leader, and being a honoree at the CES awards.

Previously, Pulkit held various leadership roles, including positions at ORIX Auto Infrastructure Services Limited, where he was the General Manager and Head of Strategy and Marketing, and MyChoize Car Rentals, a self-drive rental service. His early ventures include co-founding Cabsguru, an app that aggregated major cab services in India, and working as a Director of Technology at Unlockar. (Pulkit Ahuja)

Guardians of the Gear: PPE Market Ready for a Tech Upgrade

The global personal protective equipment (PPE) market is experiencing robust growth, driven by increased demand for worker safety in industries like healthcare, manufacturing, and construction. In 2024, the market was valued at approximately $84.55 billion, with projections estimating it will reach $128 billion by 2030, at a compound annual growth rate (CAGR) of 7.2% from 2024 onward. This growth reflects heightened awareness around occupational safety and stricter regulatory standards, particularly in regions with highly industrialized economies such as North America and Europe. (Grand View Research)

In North America, which held the largest market share in 2023, regulatory bodies like the Occupational Safety and Health Administration (OSHA) enforce stringent safety protocols across industries, contributing to significant demand for PPE. Europe follows closely, driven by similarly rigorous regulations and the need for durable equipment in industries like oil and gas, metal manufacturing, and automotive production. Both regions emphasize high safety standards, and PPE usage is deeply integrated into workplace norms. (Mordor Intelligence)​

Emerging economies in Asia-Pacific are also projected to see rapid growth in PPE demand, largely due to expanding infrastructure and manufacturing industries. Key sectors like construction, pharmaceuticals, and mining in countries such as China, India, and Vietnam are increasingly adopting PPE, making Asia-Pacific one of the fastest-growing regions for this market​.

The market’s expansion is bolstered by ongoing innovation, with companies like 3M, Honeywell, and DuPont leading advancements in materials and ergonomic design. These innovations address common industry demands for durable, comfortable, and versatile protective equipment that can reduce workplace injuries and enhance compliance​.

Vision Helmets and Innovation Hats: Proxgy’s Mission in Motion

Proxgy’s mission is to enhance workplace safety through intelligent IoT-enabled wearables that safeguard workers in high-risk environments. Founded in Gurugram, India, Proxgy envisions a safer, digitally integrated world where wearable technology connects and protects workers in real time. Their products provide critical environmental monitoring and real-time data insights, essential for industries like construction, oil and gas, and mining. (About Proxgy)

Problems They Solve

Proxgy addresses major industrial safety issues, especially in sectors with high exposure to physical hazards. For example, their smart helmets and other wearables monitor harmful gases, temperature, and location, significantly reducing accident risks. By enabling real-time health and location monitoring, Proxgy’s devices help workers receive immediate aid, which is crucial in emergencies. This solution aims to minimize workplace injuries, enhance compliance, and boost operational efficiency through proactive monitoring and automated alerts.

Business Model

Proxgy operates with a dual revenue approach that combines device-as-a-service (DaaS) and software-as-a-service (SaaS) models. Customers, typically industries and government agencies, subscribe to Proxgy’s wearables and pay for analytics-driven software that enables managers to monitor and analyze workforce safety in real time. The business model leverages data analytics, which companies use to optimize safety measures and streamline workflows​.

Safety Suite: Proxgy’s Product Line-Up Has Your Back (and Head!)

Proxgy offers a range of IoT-enabled smart wearables designed to enhance safety and operational efficiency in high-risk environments. Their product line primarily targets industrial sectors like construction, mining, and oil and gas, focusing on real-time monitoring, environmental safety, and worker health.

SmartHat

The SmartHat is Proxgy’s multifunctional, IoT-powered helmet aimed at maximizing worker safety in dangerous environments. It includes dual cameras: a front camera with infrared capability for low-light situations and a rear camera with a 160-degree field of view. This setup enables live streaming, video calling, and recording, allowing remote supervisors to see and hear from the worker’s perspective. It also features a robust ABS shell, waterproof IP67 rating, and fall-detection sensors that trigger alerts during incidents.

For hazardous gases, SmartHat is equipped with sensors that detect up to 14 types of flammable gases and three toxic gases. Its LiFePO4 battery is blast-resistant and quick-charging via USB-C. Built-in proximity sensors provide haptic alerts when objects are overhead, while the helmet’s ergonomic volume and radio toggles facilitate communication across channels without separate devices​. (SmartHat)

Sleefe

The Sleefe is an attachable smart device that provides audio-visual communication for hands-free use in field conditions. Sleefe’s high-definition front camera, with low-light infrared support, enables high-quality video recording (up to 1080p) and image capturing, facilitating detailed remote inspection and surveillance. The titanium clip securely fastens to caps, and tactile buttons allow workers to switch between 16 radio channels. Its durable mic and speakers offer loud, clear audio even in noisy settings, ideal for logistics, delivery confirmations, and remote assistance. Sleefe charges rapidly through a USB-C port, making it a reliable, ergonomic tool in industrial environments. (Sleefe)

AirHat

AirHat integrates personal air filtration and ventilation with workplace safety features. Its multi-layered filtration system, including a HEPA filter, traps up to 99.99% of airborne particles, providing workers with clean, breathable air in environments exposed to dust, toxic gases, or extreme heat. The AirHat features adjustable vents and fan speeds, including a quiet mode for minimal disruption, ensuring comfort during extended use. This helmet also automatically shuts down and alerts users when toxic gases are detected, thanks to advanced gas sensors. Suitable for sectors like construction, oil refineries, and mining, AirHat combines air purification and protective features​. (AirHat)

Lockator®

The Lockator® is a GPS-enabled electronic lock that provides secure, real-time tracking of assets, ideal for managing equipment and valuable resources in remote and hazardous locations. This IoT-based lock is monitored through Proxgy’s software, allowing managers to track asset location and status on-demand, thus minimizing losses and unauthorized access​.  (Lockator)

AudioPod®

The AudioPod® is an on-site audio system designed for environments requiring regular announcements or alerts. This device integrates with Proxgy’s broader safety ecosystem, enabling scheduled or on-demand announcements. The AudioPod helps ensure that all personnel receive timely information, especially in noisy settings where visibility and direct communication might be challenging​. (AudioPod)

BirdBox™

BirdBox™ is a portable surveillance device, featuring a 15-meter adjustable camera tower equipped with dual 8-megapixel cameras. It provides continuous 360-degree monitoring and integrates AI-driven analytics to automatically detect and alert for incidents. BirdBox is ideal for securing large sites and enabling remote surveillance, particularly valuable for sectors requiring intensive site securityr, these devices create a cohesive ecosystem that combines IoT hardware with AI-powered software to provide industry-specific safety solutions. Each device’s data flows into Proxgy’s SaaS platform, generating actionable safety insights that help improve worker protection and operational efficiency. (Birdbox)

Safety Nets and Power Bets: Proxgy’s Partnerships and Market Dominance

Proxgy has made a significant mark in the Industrial IoT sector by bridging the gap between safety and smart technology for blue-collar workers.  In 2023, it secured a spot in the League of 10 in the NASSCOM Emerge 50 Awards, distinguishing itself in the Manufacturing & Industrial Tech category for advancing the Industrial IoT sector with unique products designed for safety and operational efficiency​. (nasscom)

Another notable accolade includes India’s Best Design Award 2023 for its SmartHat product, acknowledging Proxgy’s commitment to merging functionality with ergonomic design. Additionally, Proxgy’s product innovations were celebrated internationally when it won the Supernova Challenge at GITEX Africa 2023. Proxgy’s market growth has also attracted significant investments. After an impressive pitch on Shark Tank India. (Best Design Award) (GITEX Africa)

Recently, Proxgy’s advancements were further recognized when it received the CES 2024 Innovation Award, a prestigious honor that reflects Proxgy’s role in revolutionizing industrial safety on a global scale​. (CES 2024)

BluePine Foods Partnership 

Proxgy partnered with BluePine Foods and Factacy, an AI solutions provider, to integrate IoT and AI into food production. This collaboration enables real-time monitoring, minimizes resource wastage, and optimizes production workflows. Proxgy’s IoT technology in BluePine Foods’ facilities improves efficiency and product quality, particularly in quick-service restaurant (QSR) processes under BluePine’s brand, Yangkiez. (The Print) 

Tier-A Financial Institutions

Proxgy collaborates with several major financial institutions, including ICICI Bank, Bank of India, and Bank of Baroda to implement IoT solutions in sectors requiring high security and asset tracking, especially with its smart lock system, Lockator®. 

Funding the Future of Safety: Proxgy’s Financial Journey

Founded in 2020 by Pulkit Ahuja, the startup quickly garnered attention, beginning with a successful pitch on Shark Tank India, where it initially raised seed capital of $132,000 from prominent investors like Ashneer Grover and Peyush Bansal​. Here’s a detailed look at their funding and revenue journey.

July 19, 2021 – Initial Seed Round

Proxgy’s first seed round raised $250,000 at a $3.0 million valuation. Investors included Lexical Systems and Binary Semantics, along with angel investors like Michael Dias and Suramya Choudhary. 

February 3, 2022 – Shark Tank Featured Seed Round

Proxgy gained further traction after appearing on Shark Tank India, raising $132,000 at a $2.7 million valuation. Investors included well-known entrepreneurs Ashneer Grover and Peyush Bansal, facilitated by Dolce Vita Trustees. This exposure significantly boosted its market visibility and investor interest​.

March 30, 2022 – Second Seed Round

In its next seed round, Proxgy raised $905,000, reaching a $5.0 million valuation. Institutional support came from OTP Venture Partners and Culture Cap, while several angel investors also participated. This infusion helped increase revenue generation, with reported revenue reaching $1,600 by the end of FY 2021-22​.

November 28, 2022 – Third Seed Round

The following seed round brought $250,000 from LetsVenture, valuing Proxgy at $12.8 million. With steady growth, the company achieved $56,100 in revenue for FY 2022-23.

October 13, 2023 – Corporate Seed Round

In 2023, Proxgy raised $2.0 million through corporate investors, including LetsVenture and Planify. This round provided additional capital for R&D and enhanced the startup’s ability to scale its innovative solutions​.

September 18, 2024 – Angel Round

Most recently, Proxgy secured $2.2 million in an angel round led by prominent figures like Manish Patel and Nikhil Kamath. This latest investment marks a strategic phase as Proxgy aims for expansive growth, driven by its cutting-edge solutions and increasing demand from industrial clients​.

Proxgy’s revenue has shown consistent growth, from ₹0.3 lakh in FY 2020-21 to ₹77.4 lakh in FY 2022-23. 

Hats Off to Innovation: Making Tomorrow Safer

Proxgy stands out as an innovator, bringing IoT-driven safety and efficiency to industries with high-risk environments. From smart helmets that monitor toxic gases to wearable communication devices for remote collaboration, Proxgy addresses critical safety needs for blue-collar workers in sectors like construction, mining, and oil and gas. Their technology combines real-time monitoring, data analytics, and intelligent alerts, providing workers and management with tools to stay connected, protected, and informed.

Proxgy’s solutions demonstrate the potential of technology to transform traditional industries, empowering companies to maintain high standards of safety and productivity in the most challenging environments.

Proxgy’s journey highlights the power of pursuing innovative ideas and adapting technology to solve real-world problems. If you’re inspired by their story, consider how your own ideas might solve challenges in your field. For more inspiring stories and insights into innovative companies, explore other articles on Venture Kites. Learn about startups tackling global challenges and get inspired to bring your own ideas to life!