Deeptech Startup Proxgy Secures Funding To Make Blue Collar Jobs Safer
Deeptech Startup Proxgy Secures Funding To Make Blue Collar Jobs Safer
Proxgy, a deeptech startup that specializes in internet of things (IoT) based solutions for blue collar workers, has secured $2 million (INR 16 crore) in a pre-Series A funding round led by LetsVenture, Planify Angel Fund, Mach Tech Fund, Cogniphy Angel Fund, Madhuram Papers Family Office, and AKGVG & Associates, along with its existing investors. The funding round was a blend of primary and secondary fund infusions.
Founded by Pulkit Ahuja (CEO) in 2020, Proxgy provides smart wearables and safety products to blue collar workers to prioritize workplace safety and efficiency. The company’s products are used by a variety of industries, including construction, manufacturing, and logistics.
Proxgy’s flagship product is a smart wearable device called the Proxgy Vest. The vest is equipped with a variety of sensors that track the worker’s vital signs, location, and posture. The data is collected and analyzed by Proxgy’s software platform to identify potential hazards and alert the worker and their supervisor in real time.
The Proxgy Vest also has a number of features that help to improve worker efficiency, such as hands-free communication and task management.
In addition to the Proxgy Vest, the company also offers a range of other safety products, such as smart helmets, smart boots, and smart glasses. Proxgy’s products are used by a variety of leading companies in India, including Tata Steel, JSW Steel, and Larsen & Toubro.
The funding raised in the pre-Series A round will be used by Proxgy to expand its product portfolio, scale up its operations, and enter new markets. The company is also planning to launch a new product called the Proxgy Platform, which will be a comprehensive IoT platform for workplace safety and efficiency.
The importance of workplace safety for blue collar workers
Blue collar workers are at an increased risk of workplace accidents and injuries. According to the Directorate General of Mines Safety, there were 660 fatal accidents in mines in India in 2021, resulting in the deaths of 717 workers.
The construction industry is also a dangerous place to work. According to the National Safety Council, construction workers are four times more likely to be killed on the job than workers in other industries.
The Proxgy Vest and other smart safety products can help to reduce the risk of accidents and injuries for blue collar workers. By tracking the worker’s vital signs, location, and posture, the Proxgy Vest can identify potential hazards and alert the worker and their supervisor in real time.
The Proxgy Vest can also help to improve worker efficiency by providing hands-free communication and task management features. This can help to reduce the amount of time that workers spend on non-productive tasks, such as looking for tools or communicating with their supervisor.
The future of workplace safety
The use of IoT technology in workplace safety is a growing trend. Companies are increasingly looking for ways to use IoT technology to reduce the risk of accidents and injuries for their workers.
Proxgy is one of the leading companies in the field of IoT-based workplace safety solutions. The company’s products are used by a variety of leading companies in India and around the world.
The funding raised in the pre-Series A round will help Proxgy to expand its product portfolio, scale up its operations, and enter new markets. The company is also planning to launch a new product called the Proxgy Platform, which will be a comprehensive IoT platform for workplace safety and efficiency.
The Proxgy Platform is expected to have a major impact on the workplace safety industry. It will provide companies with a one-stop solution for their workplace safety needs. The platform will also help companies to improve their worker efficiency and productivity.
The future of workplace safety looks bright. With companies like Proxgy developing innovative IoT-based solutions, the risk of accidents and injuries for blue collar workers is expected to reduce significantly in the coming years.
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