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.
Table of Contents
Proxgy | Shark Tank India | AI Startup
| Company Name | Proxgy |
| Founders | Pulkit Ahuja and Inderjit singh |
| Business Category | AR Business and Making innovative products |
| Net Worth | Rs 20 Crore |
| Valuation | Rs 35 Crores |
| Funding Asked | Rs 35 Lakhs for 1% Equity |
| Funding Given | Read the last paragraph |
| Investors | Bharat Pe and Lenskart (Ashneer Grover and Peyush Bansal) |
| TV Show | Shark Tank India |
| Episdoe | Episode 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
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
Anupam Mittal – Shark and Founder Shaadi.com
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?
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.
Must Read and Iconic Startup Stories of Shark Tank India
- Gopals 56 – Will they bag 300CRORES from Shark Tank India | Ice Cream Startup
- How “Sippline” becomes the most iconic pitch of Shark Tank India! | Under20s
- How Hammer Lifestyle got sold to Boat in Shark Tank India | Hammer Lifestyle |
- How Lenskart Bought Isak Perfumes for Rs50 Lakhs in Shark Tank India | Under20s | Isak Perfumes
This was the whole story of Experiential Etc. This article was penned by Devansh, if you liked this story you can follow him over Instagram and Join us now on Instagram, Telegram, and Twitter.
