Pneucons, a business focused on B2B industrial marketplaces, has successfully concluded its pre-series financing round, the details of which have not been released.
The funding was primarily driven by active interaction on various social media platforms. Tarun Mehta, co-founder and CEO of Ather Energy, also participated in the round.
The funds will be utilized to enhance the workforce, with a specific emphasis on increasing cross-border transactions in key engineering sectors such as fire safety, pneumatics and hydraulics, industrial automation, plastic and packaging, electric cables and goods, and power tools.
Read also – Unimech Aerospace Secures $30 Mn Maiden Funding Round Led by Steadview Capital Mauritius Limited, Others
Pneucons is a startup in the B2B industrial marketplace sector that is constructing an infrastructure similar to ONDC. Pneucons caters to small and medium-sized enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) in India’s industrial sector. The company focuses on resolving issues such as credit defaults, unclear pricing, and the accessibility of authentic high-quality items.
Pneucons asserts its global reach in more than 42 countries, boasting a network of 7,000 customers and 70 sellers, all garnered through word-of-mouth referrals. It has conducted cross-border transactions in 12 different nations.
About Pneucons
Founded in 1982 by Mahendra Lakhani, Pneucons is a transaction-based platform that facilitates the buying, selling, and indenting of industrial goods.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
