JSW One Platform enters unicorn club after raising Rs 340 Cr

B2B e-commerce platform JSW One Platforms has raised Rs 340 crore at a $1 billion valuation, in a round led by Principal Asset Management, OneUp, JSW Steel, and other investors.

The unicorn valuation is a 3x jump from its earlier round in April 2023, wherein it raised Rs 205 crore in funding from Japan’s Mitsui & Co to scale its credit and logistics capabilities and expand into new markets, the company said in a statement.

"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," said Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, in the statement.

The company plans to use the capital to strengthen its supply chain leadership in the cement and steel categories and double down on its distribution and logistics network across India. It is also looking to to scale its fintech and NBFC arms to offer credit to MSMEs.

"We're solving critical pain points by combining our tech-led distribution model with JSW Group's strength in manufacturing," said Parth Jindal, Chairman, JSW One Platforms.