B2B industrial marketplace startup Pneucons has successfully closed an undisclosed pre-Series funding round, attracting significant attention through social media engagement. The round saw participation from notable investors, including Tarun Mehta, co-founder and CEO of Ather Energy.
The newly acquired funds will be allocated towards expanding Pneucons’ team and enhancing its cross-border transaction capabilities across key engineering sectors such as fire safety, pneumatics and hydraulics, industrial automation, plastic and packaging, electric cables, and power tools.
Founded in 2022 by Pritesh Lakhani, Pneucons aims to build an ONDC-like infrastructure to support SMEs and MSMEs within India’s industrial sector. The startup addresses issues related to credit defaults, opaque pricing, and the availability of genuine quality products.
Based in Ahmedabad, Pneucons claims a presence in over 42 countries with 7,000 buyers and 70 sellers, all acquired primarily through word of mouth. The company has facilitated cross-border transactions in 12 countries and counts major enterprises and government bodies among its clients, including Indian Railways, Indian Oil, L&T Suffin, Telangana Power Plant, and ISRO.
According to the startup, sellers from tier II and III cities are directly engaging in export and import activities through Pneucons.
