JSW One Platforms, the B2B e-commerce venture of JSW Group, has raised INR 205 crore (equivalent to $25 million) in a Series A funding round, valuing the company at INR 2,750 crore. Mitsui & Co Ltd led the funding round.
The newly raised funds will enable JSW One Platforms to bolster its market position and improve its technological capabilities. The company intends to use the funds to expand into additional regions, such as Delhi-NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh, as per reported by Inc42.
“We are delighted to have Mitsui as our first institutional investor. We are excited about their experience of working in the B2B industry across various markets in the world. Their investment will help us penetrate deeper into the industrial and construction industries. We also look forward to bringing other industry segments onto the platform and will continue to leverage technology to be an industry-leading platform for MSMEs,” said Gaurav Sachdeva, CEO of JSW One Platforms.
In addition to expanding its geographic presence, JSW One Platforms will also allocate funds towards enhancing its logistics, credit, and technology infrastructure to provide a better customer experience.
JSW One Platforms was established by Parth Jindal, and it primarily operates as a B2B technology-enabled marketplace that caters to the raw material requirements of MSMEs. The company facilitates the connection between manufacturers and steel suppliers.
About JSW One Platforms
JSW One Platforms offers a range of products, including mild steel, stainless steel, welding wires, cement, and paints, which are manufactured by JSW Group’s subsidiaries as well as other steel companies, to MSMEs.