The firm Pneucons, a B2B industrial marketplace, has finished its unannounced pre-series financing round, which was solely motivated by participation on social media. Ather Energy’s co-founder and CEO, Tarun Mehta, also took part in the investment.
The money raised will be utilised to grow the team and concentrate on additional international business in key engineering areas such as industrial automation, plastic and packaging, power tools, fire safety, pneumatics and hydraulics, and electric cables and products.
Pneucons, a B2B industrial marketplace firm founded in 2022 by Pritesh Lakhani, is developing an infrastructure akin to ONDC. They provides services to MSMEs and SMEs in the Indian industrial sector, addressing issues like credit defaults, opaque pricing, and the supply of real, high-quality products.
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According to the Ahmedabad-based firm, word-of-mouth brought them customers in over 42 countries, where they now have 7,000 buyers and 70 suppliers. In twelve nations, it has completed cross-border transactions.
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Among its clientele are well-known businesses and governmental organisations including 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.
About Pneucons
Pneucons is a transaction-based marketplace that makes industrial goods buying, selling, and indenting easier.
