JSW One Platforms Becomes India's Latest Unicorn After Raising Rs 340 Crore in Fresh Funding
• Funding Raised: Rs 340 crore (~$41 million)
• Valuation: Now valued at $1 billion, marking 3x growth since April 2023
• Investors: Round led by Principal Asset Management, OneUp, JSW Steel, and others
JSW One Platforms, the JSW Group's B2B e-commerce business, has entered the unicorn club after it raised Rs 340 crore (approximately $41 million), valuing it at $1 billion. Principal Asset Management, OneUp, JSW Steel, and other strategic investors invested in the round.
Valuation now has increased over three times since the April 2023 fundraising, when it had raised Rs 205 crore from Japan's Mitsui & Co. The funds primarily supported credit products, logistics, and expansion in new Indian markets.
JSW One Platforms CEO Gaurav Sachdeva was optimistic about empowering India's MSMEs.
"JSW One will deliver quality inputs on time to MSMEs, reliable procurement, and intelligent credit solutions. The funding will enable us to increase operations, expand private label business, develop our NBFC vertical, and invest in logistics and technology," he added further.
The company will utilize the new capital to reinforce supply chain leadership in high-demanding segments such as steel and cement and increase its distribution and logistics infrastructure in India.
Parth Jindal, JSW One Platforms' Chairman emphasized the importance of coupling digital innovation with JSW Group's manufacturing prowess.
"Through our technology-driven model and the JSW Group's robust manufacturing, we are solving critical B2B commerce issues. This provides MSMEs with a seamless ecosystem, which is critical for India's industrial growth," said Jindal.
JSW One Platforms was set up to digitally enable procurement for small and medium enterprises and has expanded as an end-to-end B2B solution provider. It provides material sourcing, delivery, and credit solutions through its NBFC arm with a supply chain efficiency focus to address growth bottlenecks for MSMEs.
With this capital, the company will enhance its fintech capabilities, particularly through its NBFC vertical, which is key to enabling credit access to MSMEs that are usually held back by conventional lenders.
• Valuation: Now valued at $1 billion, marking 3x growth since April 2023
• Investors: Round led by Principal Asset Management, OneUp, JSW Steel, and others
JSW One Platforms, the JSW Group's B2B e-commerce business, has entered the unicorn club after it raised Rs 340 crore (approximately $41 million), valuing it at $1 billion. Principal Asset Management, OneUp, JSW Steel, and other strategic investors invested in the round.
Valuation now has increased over three times since the April 2023 fundraising, when it had raised Rs 205 crore from Japan's Mitsui & Co. The funds primarily supported credit products, logistics, and expansion in new Indian markets.
JSW One Platforms CEO Gaurav Sachdeva was optimistic about empowering India's MSMEs.
"JSW One will deliver quality inputs on time to MSMEs, reliable procurement, and intelligent credit solutions. The funding will enable us to increase operations, expand private label business, develop our NBFC vertical, and invest in logistics and technology," he added further.
The company will utilize the new capital to reinforce supply chain leadership in high-demanding segments such as steel and cement and increase its distribution and logistics infrastructure in India.
Parth Jindal, JSW One Platforms' Chairman emphasized the importance of coupling digital innovation with JSW Group's manufacturing prowess.
"Through our technology-driven model and the JSW Group's robust manufacturing, we are solving critical B2B commerce issues. This provides MSMEs with a seamless ecosystem, which is critical for India's industrial growth," said Jindal.
JSW One Platforms was set up to digitally enable procurement for small and medium enterprises and has expanded as an end-to-end B2B solution provider. It provides material sourcing, delivery, and credit solutions through its NBFC arm with a supply chain efficiency focus to address growth bottlenecks for MSMEs.
With this capital, the company will enhance its fintech capabilities, particularly through its NBFC vertical, which is key to enabling credit access to MSMEs that are usually held back by conventional lenders.
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