JSW One Platforms becomes unicorn, raises Rs 340 crore
BENGALURU: B2B ecommerce platform JSW One Platforms on Tuesday announced that it raised Rs 340 crore of fresh capital and the round brings the company’s valuation to $1 billion.
This is a valuation jump of over 3x from its earlier round of funding in April 2023.
The capital raised will strengthen national supply chain leadership in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and NBFC arms, and enable wider access to credit for MSMEs, the company said in a statement.
JSW One is a tech-first B2B e-commerce platform built to serve the country’s construction and manufacturing MSMEs, and the platform leverages the JSW Group’s expertise in steel and cement.
In a Tuesday statement, Parth Jindal, Chairman, JSW One Platforms, said; “We’re solving critical pain points by combining our tech-led distribution model with JSW Group’s strength in manufacturing. We are well-positioned to fulfil the ambitions of India’s expanding MSME sector.”
According to Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, this capital allows the startup to expand its service network, scale our private brands and NBFC arm, and invest further in tech and logistics.
In April 2023, JSW One raised Rs 205 crore in funding from Japan’s Mitsui & Co., which helped scale its credit and logistics capabilities and expand into new markets.
