Proxgy , one of the highest funded startups on Shark Tank India based out of Gurugram, announced its unaudited financial results for the Fiscal Year 2024. The company recorded an 800% surge in gross revenue coupled with a significant reduction of 43% in operational losses.
Proxgy now operates over 50,000 (fifty thousand) connected devices across India spread across 600 plus cities for various Tier 1 clients including PSU Banks, Private Banks, FinTechs and Fortune 500 Logistic companies.
Speaking on the development, Pulkit Ahuja, Founder & CEO of Proxgy expressed, “While most of our implementations last year were focussed around the FinTech space catering to AudioCubes, Dynamic QR devices and AudioCube Minis (Pocket UPI Sound boxes), we were successfully able to launch the Lockator Smart Locks for logistics and transportation customers thereby increasing our product spread and client reach.”
Proxgy is a niche Industrial IoT solutions startup whose innovative products include the multi award winning futuristic SmartHat and Sleefe Proxgy’s products are primarily focussed on serving the Industrial workers in India and eventually around the globe ensuring their safety, connectivity, and productivity.
Over the course of last financial year, Pulkit explained that they have invented, engineered, and launched over 8 new SKUs addressing the needs of their clientele. Proxgy also rebranded their AudioCube product line into the AudioPod platform which is now recording over INR 100 crores in monthly transactions across customers.
“It is not very often that you see successful implementations of this scale which are completely Made in India for the World. With every implementation, we are quietly building a network of connected devices which would form the base net for easy large-scale deployments of smart cities and smart consumer products in the future.”, added Pulkit Ahuja.
These developments are part of Proxgy’s long-term strategy to leverage base layer IoT (internet of things) technology for improving customer experiences and operational processes. The company’s investment in research and development (R&D) has proven pivotal to its success, enabling the rollout of new services that meet the evolving needs of consumers and businesses alike.
