Delivering 40x ROI for Ashneer Grover and Peyush Bansal
As Shark Tank India prepares for its fourth season, one of its most successful ventures, Proxgy, has made headlines again. The technology-driven startup, co-founded by Pulkit Ahuja and Inderjit Singh Makkar, has seen remarkable growth since it appeared on the show’s inaugural season. Initially valued at just Rs 10 crore after securing an investment of Rs 1 crore in 2021 from Ashneer Grover and Peyush Bansal, Proxgy has now reached an astonishing Rs 400 crore valuation, marking a phenomenal growth trajectory over the past three years.
Unique pitch
Proxgy’s pitch during Season 1 featured six patented innovations aimed at helping businesses with surveillance, KYC verification, and other tech solutions. The company impressed the judges with its unique product offerings, including cameras, code scanners, and voice boxes, even though some of the judges were initially skeptical. Despite this, Proxgy succeeded in securing a deal with Ashneer Grover and Peyush Bansal, who agreed to invest Rs 1 crore for a 10% stake in the business. At the time, the company’s valuation was set at Rs 10 crore, but the strategic partnership and guidance from the investors played a crucial role in Proxgy’s success.
Reflecting on the impact of the show, Pulkit Ahuja credited Shark Tank India for transforming their business. “Shark Tank made us what we are today,” Ahuja shared in a recent promotional video, highlighting the importance of the exposure and investment they received.
Three year’s Rs400 crores valuation
In just three years, Proxgy has achieved unprecedented growth, reaching a Rs 400 crore valuation, representing a 40x return on investment for both Ashneer Grover and Peyush Bansal. While the latest promo showcases this incredible milestone, it remains unclear whether Grover and Bansal are still actively involved in the company, but their early backing undeniably played a key role in its success.
Shark Tank India Season 4
Shark Tank India Season 4 promises even more inspiring entrepreneurial stories. Set to premiere on January 6 on SonyLIV, the new season will feature a refreshed panel of judges. Returning investors Peyush Bansal, Aman Gupta, Namita Thapar, Vineeta Singh, and Anupam Mittal will be joined by new additions such as Ritesh Agarwal, Kunal Bahl, and Azhar Iqubal. Notably, Ashneer Grover, who played a significant role in Proxgy’s success, will not be returning for this season, marking a shift in the show’s dynamic.
