06/06/2024
In 2021, when the cyclone Tauktae swept the Arabian Sea and killed over 78 people who were left on the ONGC oil rigs, "What if the authorities had received the correct information before the cyclone struck?" or "What if the help was received earlier in that time?"
📌 How it started?
Pulkit Ahuja, the founder of Proxgy Technologies, also thought about the same questions. They went out for the investment related to an IOT-enabled smart helmet. His thought was, "How can this helmet be more than just something we wear as human proxies to perform our daily duties?"
The question turned into an idea when Proxy contacted the government and several private companies for custom-made smart helmets.
In 2021, Proxgy introduced its first product, an Internet of Things (IoT)-enabled smart helmet featuring a 360-degree viewing option and stereoscopic 3D experience. In-house innovations like ScrollView, StreamScroll, and UVCI (Universal Video Conferencing Identifier) were also incorporated into the program.
📌 Sharktank effect
In the popular television show Sharktank, Pulkit and his business partner, Inderjit Singh Makkar, presented their product. Around 60,000 companies participated in the show, but only 67 got funding, and one of those 67 companies, Proxy, secured an investment of $1 million.
After getting selected for the final stage of the TV show, the process done by the shark tank not only gave them funding, but it also gave them the confidence to not only present ideas to the sharks but also to the rest of the world.
After appearing on Shark Tank India, Proxgy's market value increased nine times in just four months, and around fifty eligible institutional investors contacted them. and the start-up has raised $800,000 in total so far.
They developed helmets for employees in mines and oil refineries. The smart helmet has light and GPS detectors, as well as a gas detector that can identify up to 14 distinct dangerous chemical kinds.
📌 How it works?
Suppose an oil rig is spread out over a hundred acres and a worker is in an emergency requiring immediate evacuation or assistance.
In that case, the smart helmet can notify the authorities and provide the necessary information, including the worker's location, biometrics (such as oxygen saturation and pulse rate), and whether any oil or gas leaks have been detected.
This notifies them that some people should rush to the control room. This can reduce the risk.They overcame many challenges, like finding the right team for the operations of the products, such as software, hardware, and IOT.