Driven solely by social media engagement, Pneucons, a B2B industrial marketplace startup, has closed its undisclosed pre-series investment round. Tarun Mehta, the CEO and co-founder of Ather Energy, also took part in the round.
With an emphasis on more cross-border transactions across major engineering categories like fire safety, pneumatics and hydraulics, industrial automation, plastic & packaging, electric cables and products, and power tools, the proceeds will be used to grow the team.
Pneucons, a B2B industrial marketplace startup founded in 2022 by Pritesh Lakhani, is developing an infrastructure akin to ONDC. Pneucons provides services to MSMEs and SMEs in the Indian industrial sector, addressing issues like credit defaults, opaque pricing, and the availability of real, high-quality products.
With 7,000 buyers and 70 sellers, the Ahmedabad-based startup claims to be present in over 42 countries, all of which were found via word-of-mouth. It has completed international transactions in twelve different nations.
Among its clients are well-known businesses and governmental organizations like Indian Railways, Indian Oil, L&T Suffin, Telangana Power Plant, and ISRO. According to the company, Pneucons is used to facilitate the direct export and import of industrial equipment by sellers from Tier II and III cities.
