B2B Startup Pneucons Raises Funding from Ather CEO Tarun Mehta and Others

Pneucons claims a strong presence across 42 countries, with a network of 7,000 buyers and 70 sellers acquired through referrals. 

Pneucons, an Ahmedabad-based startup that connects businesses in the industrial sector, has successfully raised funds in a recent investment round led by social media engagement. 

Tarun Mehta, co-founder of Ather Energy, and other angel investors participated in this round. The funding will primarily support Pneucons in expanding its team and improving its capabilities for international transactions.

Co-founder and CEO Pritesh Lakhani expressed confidence in the startup's growth prospects with the support of these funds and prominent investors. Since its establishment in 2022, Pneucons has focused on engineering categories like fire safety, pneumatics, industrial automation, and more. 

It aims to tackle common challenges faced by small and medium-sized enterprises (SMEs) in India, such as credit issues and unclear pricing for industrial products.

The recent funding round highlights the demand for a marketplace specifically designed for SMEs and MSMEs dealing with credit terms and pricing complexities. Despite initial concerns from investors about a cash-based, cross-border platform, Pneucons leveraged Twitter effectively to build credibility and attract investor attention.

The startup has facilitated transactions in both domestic and international markets, partnering with major entities like Indian Railways, Indian Oil, and ISRO. Its platform enables sellers from smaller cities to engage directly in exporting and importing industrial equipment, thereby expanding their business opportunities.