Aam Papad

Been speaking to a lot of analysts and VCs lately, and one thing stands out There’s a noticeable knowledge gap when it comes to funding startups in the engineering and industrial space. Most people know just one name: IndiaMART. But very few know the real story behind it. Many assume we’re simply building a better version of their model but most haven’t actually studied that model, or understood the years it took them to build trust, aggregate fragmented supply, and scale a platform in a low-margin, high-complexity environment. The truth is, IndiaMART built the category. They opened the doors. They showed what’s possible in this space. Startups like @pneucons and many more to come are only able to exist because they proved the opportunity is real. But it’s unrealistic to expect every investor to already understand this space. And maybe that’s okay. As founders, it’s on us to tell the story, to explain the market, to showcase what’s changing, and why now is the right time to bet on this next wave. Startups already come prepared with numbers like GMV, repeat rates, margins, stickiness. But often, that’s not the problem. The real gap is context. And that context matters. Because most investment frameworks today expect 2–5 year returns at internet-scale speed. But let’s be honest if the industrial and engineering sector gave 30%+ YoY returns... 1. India would already be a developed nation 2. Every manufacturer would be running their own investment fund This space was never about “quick returns.” It’s about durability, reliability, and long-term value. Factories don’t scale overnight. Trust isn’t built in a week. Margins are real, but they’re earned slowly. So the question is: Where is the ecosystem that understands this? Where are the investors, analysts, and fund managers who want to build with this lens? Not just reading the spreadsheets but walking the shop floors. Understanding not just CAC and LTV but lead times, delivery risk, and buyer trust. We don’t need to force-fit D2C, SaaS, or fintech templates onto industrial startups. This sector is the backbone of the global economy & it deserves its own frameworks, its own ecosystem, its own thesis. And someone, somewhere, is going to build that. The only question is...who?

@sajithpaia can’t thank you enough for backing our conviction to pivot and being supportive through all the lows. It takes time to build something that has a true impact on customer’s business- or as I say to my team- ‘to become the ‘last software they will shut off’ and its important to have investors who see it that way and give you the time to invest in getting there.

@ganeshsonawane If ever you receive such a thing where they are taking money but the award will be given by a Bollywood actress, pls forward to me.