Pneucons, a B2B industrial marketplace startup, has successfully closed its pre-series investment round, driven by significant social media engagement. The round saw participation from Tarun Mehta, co-founder and CEO of Ather Energy, among other notable investors.
The new funding will be allocated towards expanding the team and enhancing cross-border transactions across key engineering categories. These categories include fire safety, pneumatics and hydraulics, industrial automation, plastic and packaging, electric cables and products, and power tools.
Founded in 2022 by Pritesh Lakhani, Pneucons aims to build an infrastructure similar to the Open Network for Digital Commerce (ONDC) for the B2B industrial sector. The startup addresses critical challenges faced by SMEs and MSMEs in India’s industrial landscape, such as credit defaults, opaque pricing, and the availability of genuine quality products.
Headquartered in Ahmedabad, Pneucons boasts a presence in over 42 countries, serving 7,000 buyers and 70 sellers, all acquired through word of mouth. The company has facilitated cross-border transactions in 12 countries.
Pneucons’ clientele includes established enterprises and government entities such as Indian Railways, Indian Oil, L&T Sufin, Telangana Power Plant, and ISRO. The platform enables sellers from tier II and III cities to directly export and import industrial equipment, fostering international trade and growth for smaller businesses.
