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JSW One Platforms Ltd., a tech-led B2B e-commerce platform, has entered the unicorn startup club after raising Rs 340 crore in fresh funding led by Principal Asset Management, OneUp, JSW Steel, and other investors. The latest $1 billion valuation marks a jump of over 3x from its earlier round of funding in April 2023.
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.
What does JSW One Platforms do?
By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country.
“JSW One Platforms is more than a marketplace, it’s how India’s MSMEs procure, finance, and grow,” said Parth Jindal, Chairman, JSW One Platforms.
“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,” Jindal added.
Purpose of fundraising
JSW One Platforms plans to use the raised capital to 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.
This will be enabled by building a robust tech stack that creates a truly integrated and digital procurement journey for small businesses, the company said.
Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, added, “JSW One’s goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions. This capital allows us to expand our service network, scale our private brands and NBFC arm, and invest further in tech and logistics. We’re building a supply chain that will continue to add efficiency for MSMEs across India.”
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