Proxgy is a Delhi-based technology startup that appeared on Shark Tank India in its first season. Its founders are Pulkit Ahuja and Inderjit Singh Makkar. This is a plain look at what it does and how its story has developed, using press reports.
The short version
- Founders: Pulkit Ahuja and Inderjit Singh Makkar
- On the show: Ashneer Grover and Peyush Bansal offered ₹1 crore for 10%, which values the company at ₹10 crore. The founders had first asked for ₹35 lakh for 1%.
- Idea: “Remote presence”, meaning a person in one place can see and hear what another person sees and hears, and guide them in real time.
What does Proxgy do?
The company builds hardware and software that lets experts or managers watch live video from a worker’s point of view and guide them from far away. YourStory described its early focus on smart safety helmets for industrial workers. The name comes from combining “proxy” and “technology”.
What has happened since?
- One report says the company raised about ₹16 crore from investors including LetsVenture and Planify Angel Fund, at a pre-money valuation reported as ₹150 crore.
- Inc42 reported that the company was in talks to raise about $5 million at a valuation of around $51 million.
- Inc42 also reported revenue of about ₹8.9 crore in FY24.
- Cricketer Ajinkya Rahane is among the people who have invested in it, according to Inc42 and The Week.
You may also see a valuation of ₹400 crore online. That figure came from promotional posts quoting the company, not from an independent valuation, so please treat it as a claim.
Why valuations change so much
A valuation is a price that a founder and an investor agree on at one time. It can differ between rounds, and reports often mix them up. Our startup glossary explains pre-money and post-money in simple words.
Questions to think about
- Does a high valuation after a TV show reflect the business, or the attention the show brings?
- What should a founder ask for on a show like Shark Tank India: money, a partner, or both?
- How should readers treat company-supplied valuation claims?
How “remote presence” works in practice
Remote assistance tools like Proxgy’s usually combine a camera worn or held by a worker, a live video and audio link, and software that lets an expert see what the worker sees and guide them. In factories, power plants or construction sites, this can mean a senior engineer in one city helping a technician fix a machine in another without travelling. The same idea is used in remote inspections, training and safety checks.
Companies that sell such tools say they save travel time and cut downtime. Buyers usually weigh this against costs such as hardware, data connections, worker privacy and how well the system works in places with weak mobile networks.
What a Shark Tank deal means for a startup
For many startups, the biggest benefit of appearing on the show is not the cheque but the attention. Sales and website visits often jump after an episode airs. But a deal on TV is only the start: the sharks’ teams check the company’s accounts and claims afterwards, and the final terms can change. Later funding rounds, like the ones reported for Proxgy, are set by new investors at their own valuations.
How to read startup valuations
A valuation is what investors agree a company is worth at a point in time. “Pre-money” is the value before new money comes in; “post-money” includes it. A higher valuation in a later round is a good sign, but it is not the same as profits or a public share price. Our startup glossary explains these terms with examples.
Related reading
- Startup basics: a plain-English glossary for entrepreneurs
- Shark Tank India Season 5: the big deals, the new sharks and what founders walked away with
- Shark Tank India Season 6 registration: how to apply
Sources: YourStory, Inc42, The Week, India.com and Venture Intelligence. Company figures are as reported at the time and may have changed.
