Proxgy, a startup that gained fame on Shark Tank India, continues to capture attention with its rapid growth and high-profile investors. Indian cricketer Ajinkya Rahane has joined the list of celebrities supporting the company by participating in its latest $3 million Series A funding round.
A Star-Studded Lineup of Investors
Rahane is not alone in backing Proxgy. The funding round also includes investments from notable figures such as:
- Nikhil Kamath, Co-founder of Zerodha
- Suniel Shetty, Bollywood actor
- Vinod Duggar, industrialist
- Maniesh Paul, actor and anchor
Rahane expressed his enthusiasm for the startup, saying:
“Having represented India on the global cricket stage, I understand the value of innovation and discipline. Proxgy reflects these principles with its groundbreaking products aimed at enhancing safety and productivity. I’m thrilled to be part of this journey.”
Phenomenal Growth: 40x in Three Years
Proxgy’s valuation has skyrocketed over the last three years. When the company first appeared on Shark Tank India Season 1, it secured funding at a valuation of ₹10 crore. Fast forward to today, Proxgy is now valued at ₹400 crore, representing a 40-fold growth in just three years.
The Shark Tank Journey
During its initial pitch on Shark Tank India, Proxgy’s concept faced skepticism. However, investors Ashneer Grover and Peyush Bansal recognized the startup’s potential. The founders originally sought ₹35 lakh for a 1% equity stake. After negotiations, Grover and Bansal offered ₹1 crore for a 10% stake, which was accepted.
It is currently unclear whether Grover and Bansal still retain their stakes in the company.
What Sets Proxgy Apart?
Proxgy offers innovative solutions that focus on enhancing safety and productivity through technology-driven products. This unique approach has resonated with consumers and investors alike, driving the company’s rapid growth.
Why This Matters
Proxgy’s success story is a testament to how bold ideas, coupled with the right execution and investor backing, can transform a startup into a multimillion-dollar enterprise in a short time.
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