Proxgy (Everywhere as a Service Private Limited), a standout startup from Shark Tank India, has announced its unaudited financial results for Fiscal Year 2024, showcasing a remarkable 800% growth in gross revenue and a significant reduction of 43% in operational losses.
The company, now managing over 50,000 connected devices across 600+ cities in India, caters to a diverse clientele, including PSU banks, private banks, fintech companies, and Fortune 500 logistics firms. This extensive network underpins Proxgy’s robust market presence and service capabilities.
Pulkit Ahuja, Founder and CEO of Proxgy, credited this success to the company’s solid business model and innovative strategies. “This phenomenal growth not only reflects our solid business model and innovative approach but also showcases our ability to efficiently scale and adapt in a dynamic market. Our team’s dedication and hard work have enabled us to achieve these outstanding results,” he remarked.
Looking ahead, Proxgy aims to build a comprehensive mesh network of connected devices, laying the groundwork for large-scale smart city deployments and smart consumer products. Pulkit Ahuja emphasized, “With every incremental IoT implementation, Proxgy is quietly building a mesh network of connected devices which would form the base connectivity layer for easy large-scale deployments of smart cities and smart consumer products in the future.”
Proxgy’s strategic advancements and financial turnaround signal a promising future for the company in the rapidly evolving Industrial IoT landscape.