PE Fund Investments
B2B e-commerce platform JSW One raises Rs.340-Cr, turns unicorn
Mumbai-based B2B (business-to-business) e-commerce platform JSW One Platforms has raised INR 340 crore at a USD 1 Billion valuation, in a round led by Principal Asset Management, OneUp, JSW Steel, and others.The new funds will be used to strengthen the firm’s supply chain prowess in the cement and steel categories and double down on its distribution and logistics network across India. The firm is also looking to scale its fintech and NBFC arms to offer credit to MSMEs (micro, small and medium enterprises).Founded in 2020, JSW One Platforms houses JSW One MSME - a multi-product digital marketplace for MSMEs that connects manufacturers and resources and JSW One Homes - an online platform that provides home construction solutions for individuals.
In Apr 2023, JSW One Platforms had attracted about USD 25 M from Mitsui PE.For FY24, JSW One Platforms had reported about INR 1,398 Cr in Operating Income and about INR 227 Cr in Net Loss.
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