Real-time data monitoring startup Leanworx and IoT solutions company Proxgy have secured early-stage funding, they said Thursday.
Bengaluru-based Leanworx, a startup specializing in real-time data monitoring, has raised Rs 8.3 crore in its seed funding round.
The round was led by YourNest Venture Capital, contributing Rs 6.5 crore, with an additional Rs1.5 crore from an angel investment group.
This funding is part of the YourNest-SanchiConnect Velocity Program 2024.
Founded in 2017, Leanworx provides an AI-powered machine monitoring system that delivers real-time, actionable data from shop-floor machines to decision-makers.
The funds will be utilized to scale marketing and lead-generation efforts in India and Southeast Asia and to advance product development, including hardware and software certification, the company said in a statement.
New Delhi-based Proxgy, a company specializing in IoT solutions for safety, connectivity, and productivity, has raised funding as part of its ongoing $3 million Series A round. Indian cricketer Ajinkya Rahane has joined as an investor in this round.
Other notable investors include entrepreneur Nikhil Kamath, Bollywood actor Suniel Shetty, and angel investors Vinod Duggar and Manish Patel, among others.
The funds will be used to scale operations, expand product offerings, and strengthen the company's presence overseas.
Founded in 2020, Proxgy is engaged in the manufacturing of IoT-based products and smart wearables, with a focus on innovative solutions for modern challenges.