Pneucons, a burgeoning B2B industrial marketplace startup, has successfully closed its pre-Series investment round with notable participation from Tarun Mehta, co-founder and CEO of Ather Energy. The funding amount remains undisclosed.
The round, driven entirely by social media engagement, marks a significant milestone for Pneucons as it aims to expand its team and increase cross-border transactions in key engineering categories such as fire safety, pneumatics and hydraulics, industrial automation, plastic and packaging, electric cables and products, and power tools.
Expansion and Vision
Founded in 2022 by Pritesh Lakhani, Pneucons is building an ONDC-like infrastructure to serve SMEs and MSMEs within India’s industrial sector. The startup addresses common industry challenges, including credit defaults, opaque pricing, and ensuring the availability of genuine quality products.
With a presence in over 42 countries, Pneucons has amassed 7,000 buyers and 70 sellers through word of mouth alone. The company has successfully executed cross-border transactions in 12 countries, establishing a reputation for facilitating reliable industrial equipment trade.
Clientele and Market Impact
Pneucons counts several established enterprises and government entities among its clients, including Indian Railways, Indian Oil, L&T Suffin, Telangana Power Plant, and ISRO. The startup highlights its role in enabling sellers from tier II and III cities to directly export and import industrial equipment.