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JSW Group’s B2B ecommerce marketplace JSW One Platforms has raised an additional INR 235 Cr to close its ongoing funding round at INR 575 Cr.
The funding round saw participation from State Bank of India (SBI), Principal Asset Management, One-Up, International Conveyors Ltd. (ICL), Scarlett Ventures, and JSW Steel.
The company initiated the funding round in May this year. At the time, JSW One Platforms had announced raising INR 340 Cr at a unicorn valuation.
In a statement, JSW One Platforms said it will use the fresh capital to invest in its proprietary technology platform, expand its operations, and strengthen its non-banking and financial company (NBFC) arm.
The company will deploy the funds to increase credit access, enhance underwriting capabilities, and design customised financial products for small businesses. It also plans to expand its distribution and logistics network across major industrial clusters to improve last-mile delivery, fulfilment, and to provide embedded financial services, it said in a statement.
Founded in 2020, JSW One Platforms is a B2B tech-enabled marketplace for construction and manufacturing MSMEs. Its offerings range from procurement and credit to fulfilment and private brands.
JSW One Platforms also operates JSW One Homes, which connects clients with professionals and contractors to handle the entire journey from buying a plot to building a home.
JSW One Platforms raised INR 205 Cr ($25 Mn) in its Series A funding round at a valuation of INR 2,750 Cr in 2023. The round was led by Mitsui & Co Ltd. The funding round in May marked a valuation jump of over 3X from April 2023 round, the company said then.
JSW One Platforms claimed to have seen a 2.4X YoY growth in its gross merchandise value (GMV) to INR 12,567 Cr in FY25. The company said it is projected to surpass INR 8,000 Cr in GMV in H1 FY26.
The company reported a revenue of INR 70.7 Cr in FY24, as per Tofler. Its net loss stood at INR 199.8 Cr.
The post JSW One Platforms Bags INR 575 Cr To Expand Ops, Strengthen NBFC Arm appeared first on Inc42 Media.
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