Aiming for Rs. 500 crores worth transactions per year with their India’s first of its kind multi-vendor B2B marketplace for engineering industry
Banking upon the revolutionary and advanced technology platform and industry expertise, Pneucons is on track to transform the industrial B2B sector in India. The Ahmedabad-based IT solutions provider is aiming to achieve Rs. 500 crores worth yearly Gross Merchandise Value (GMV) or transactions by the year 2025. Pneucons is India’s first-of-its-kind multi-vendor B2B marketplace for the engineering industry and has 4,000 users on its platform. The company is eying to have 1,00,000 registered sellers in the next three years.
Commenting on the development, Mr. Pritesh Lakhani, CEO, Pneucons, said, “The B2B sector in the engineering categories is very untapped. It is the most unorganized sector, and using technology, we are organizing the sector to reach out to the masses. We are the only B2B platform where a new seller can start selling its products in 7 minutes in more than 10 engineering categories & buyers can generate instant RFQs. There are over 1 lakh SKUs on the platform that range from Rs. 20 to Rs. 2 lakhs. With unique features like fastest settlement, flat commission, lowest subscription charges, no commission for the first six months and the most transparent process, Pneucons is set to take a giant leap in the coming years.”
Despite the technology revolution, almost every industry in India is yet to get fully-benefited from tech solutions. India has 1.23 crore GST taxpayers, and not even 3% of people are selling products online in engineering categories. Currently, the Indian B2B sector is facing huge challenges like credit cycle, payment defaults, indenting, logistics issues, etc. To overcome such problems, Pneucons has come up with a marketplace that provides end-to-end solutions to customers, unlike existing platforms, which only provide lead generation.
Pneucons was founded in 1982 by Mr. Mahendra Lakhani with a simple goal to deliver quality products and automation in industrial engineering. Later, the second generation came up with new ideas and technological solutions and Lakhani duo Mr. Pritesh and Mr. Darshit launched the beta version of their platform in December 2020. In the span of just eight months, the beta version received tremendous response and generated transactions worth Rs. 2.35 crore apart from getting recognition in 14 countries. Now the marketplace has executed more than 500 orders since its inception, and the current average order value is Rs. 1 lakh.
Mr. Darshit Lakhani, COO, Pneucons, said, “We are pioneers in the fire-fighting industry for the Real estate sector. With our core values like ‘You Earn, We Earn’ & ‘Your Sale, Your Customer’ approach, we give genuine business to the sellers. At present, more than 25 leading national and international brands from countries like Japan, Taiwan, South Korea, Singapore, etc., have listed their products on our marketplace. We are focused on seller transactions in their respective categories as well as generating new revenues by cross-selling in other categories via Pneucons’s marketplace. Currently, more than 10 engineering categories are live on Pneucons& soon categories like Chemical, Scrap & Lubricants will go live.”
Unlike the other marketplaces, Pneucons is a first-of-its-kind multi-vendor B2B marketplace. The majority of the sellers on the platform are from urban areas. For the next three years, the company will focus on four metros, i.e. Delhi, Mumbai, Chennai and Kolkata, plus Ahmedabad and Pune, to penetrate further and strengthen the client base. Import & Export of smaller transaction values in the engineering segment is a huge challenge for businesses. For the next stage of growth, Pneucons is working on making the whole import-export ecosystem more simple, smoother and hassle-free for the businesses. The company has also tied up with India’s leading key logistic partners to deliver goods to all possible pin codes across India.
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