Startups Shark Tank India

How “Proxgy” got funded from BharatPe and Lenskart in Shark Tank India! | Under20s

Sharks investing in Proxgy | BharatPe and Lenskart investing in proxgy |

Proxgy is a startup that makes innovative products and recently got featured in Shark Tank India. Proxgy Shark Tank. It is founded by Pulkit Ahuja and Inder Singh. Read This story to get to know proxgy, proxgy funding, proxgy helmet, proxgy site, proxgy yourstory, proxgy linkedin, proxgy LLP, proxgy sarojini nagar, and proxgy CrunchBase.

Proxgy | Shark Tank India | AI Startup

Company NameProxgy
FoundersPulkit Ahuja and Inderjit singh
Business CategoryAR Business and Making innovative products
Net WorthRs 20 Crore
ValuationRs 35 Crores
Funding AskedRs 35 Lakhs for 1% Equity
Funding GivenRead the last paragraph
InvestorsBharat Pe and Lenskart (Ashneer Grover and Peyush Bansal)
TV ShowShark Tank India
EpisdoeEpisode 33

Pulkit Ahuja and Inderjit Singh Makkar are the co-founders of Proxgy. In dwapar yug during Mahabharata Sanjay had a Divya Drishti of knowing anything at any place. Today after 100Years Proxgy has brought a patented technology that is completely made in India. This helps you to know anything and by tuning on live assist you can watch anything anywhere.

What is special in proxgy?

Proxgy provides you privacy, discoverability, and an immersive experience. Even we are in a cab and want to watch property, sitting at home can do shopping in Sarojni and by sitting in Mumbai we can guide employees how to do.

This startup is having 6 products patented and more are in the queue and has more than 1,20,000 Pre-orders and the order book value is Rs20 Crores.

Previous rounds of Funding

This startup has raised 2,50,000 US DOLLARS as a pre-seed round which was leaded by Lexical Systems and investors were Suramya Choudhary, Inderjit Singh Makkar, and Michael Dias Associates. The startup has used the capita; to expand their technology IPR Portfolio across the world including US and EU.

What is their ask for investment from Sharks? | Shark Tank India

Their ask is Rs35 Lakhs for 1% Equity. The valuation of the company is Rs35 Crores.

QnA | Sharks asking Proxgy |Shark Tank India

Pulkit Ahuja | Inderjit singh | founders of proxgy | shark tank india

What is the background of founders?

They were born and brought up in Delhi and did engineering. When Pulkit took admission in MBA and Inder was 7 level up the boss of him. 

Pulkit Ahuja has also published a book which is one of the bestsellers in the finance section “Googled by God” You can check out the same by clicking here.

Inder is in the execution king and CPO – Chief production officer and holds 13% Equity of the company whereas Pulkit has 57%.

What is the use case of the product?

Ashneer suggested high-value use cases for the product as they can be used in Jewelry delivery, phone delivery, etc. 

In Food Delivery if a person is wearing a headcam so it becomes a deterrent even if we are not watching.

1:1 | Sharks investing in Proxgy | Shark Tank India

Sharks investing in Proxgy | BharatPe and Lenskart investing in proxgy |

Anupam Mittal – Shark and Founder

He was thinking very much about this startup and feeling very interested in this. Anupam feels that Pulkit is confused as he is an inventor, business, and author.

The product on which they are working is good but the market of same is getting commoditized very fast. They will get orders but will not be able to defend themselves in near future. For This reason, he is out from pitch.

Aman Gupta- Shark and Co-Founder Boat

He feels that this startup needs a perfect salesman who can simply sell the product. Aman is out because the startup needs maturity and a sales team.

Namita Thapar- Shark and ED @ Emcure Pharmaceuticals

This is the industry where Namita is not having expertise and she will not be able to contribute much so for this reason she is out.

Ashneer Grover and Peyush Bansal

They have a bouquet of companies that helps them in building the business. 

Offer- Rs50 Lakhs for 10% Equity.

Counter Offer

Team of startup has countered offer by Rs50 Lakhs for 2.5% Equity.

Peyush Bansal – Shark and Founder Lenskart

They need strong equity and they increased the offer to Rs1 Crore for 10% Equity.

Where did the deal got closed of Proxgy with Sharks?

Proxgy products | shark tank india | proxgy shark tank india

Pulkit and Inder asked for a little more in funding as they were comfortable in giving the equity but Peyush made them understand how their company will be valuable to him also if he invests in that. 

The deal got closed at Rs1 Crore for 10% Equity and the company’s valuation is Rs10 Crores.

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