JSW One Platforms Ltd., a technology-driven B2B e-commerce platform, has officially become a unicorn after securing Rs 340 crore in its latest funding round. This investment, led by Principal Asset Management, OneUp, and JSW Steel, elevates the company’s valuation to $1 billion, reflecting a significant increase of more than three times from its previous funding round in April 2023.
In that earlier round, JSW One raised Rs 205 crore from Japan’s Mitsui & Co. This initial funding was pivotal in enhancing its credit and logistics capabilities, as well as enabling expansion into new markets.
Empowering MSMEs Across India
JSW One Platforms is dedicated to supporting over 500,000 micro, small, and medium enterprises (MSMEs) in the building and manufacturing sectors. The platform provides an integrated ecosystem that includes commerce, credit, and fulfillment services. Parth Jindal, Chairman of JSW One Platforms, emphasized that the company transcends traditional marketplaces.
“We’re addressing critical challenges by merging our tech-led distribution model with the manufacturing prowess of the JSW Group,” Jindal explained. He believes this approach positions the company strongly to meet the growing needs of the MSME sector in India.
Strategic Use of Funds
The funds raised will be utilized to fortify JSW One’s leadership in the national supply chain, particularly in the steel and cement categories. The company aims to enhance its distribution and logistics networks across India while scaling its fintech and non-banking financial company (NBFC) operations.
Gaurav Sachdeva, Joint Managing Director & CEO of JSW One Platforms, stated, “Our mission is to ensure reliable procurement for MSMEs through quality materials, timely deliveries, and appropriate credit solutions.” He added that this capital infusion will help expand their service network, enhance their private brands, and invest further in technology and logistics.
JSW One Platforms is on a mission to create a more efficient supply chain that benefits MSMEs throughout India, paving the way for growth and innovation in the sector.
