JSW One Platforms Joins Unicorn Club With Rs 340 Cr Fundraise

B2B e-commerce platform JSW One Platforms has raised Rs 340 crore at a $1 billion valuation, entering the unicorn club. This valuation shows a 3x jump from its earlier round of funding in April 2023. The funding round was led by Principal Asset Management, OneUp, JSW Steel, and other investors.

The fresh capital will 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.

“JSW One Platforms is more than a marketplace, it’s how India’s MSMEs procure, finance, and grow. We are 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,” said JSW One Platforms chairman Parth Jindal.

JSW One aims to simplify sourcing and accelerate growth for over 5,00,000 building and manufacturing MSMEs across the country.

“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 JSW One Platforms CEO Gaurav Sachdeva.

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.

According to a 2023 report by venture capital and private equity firm Bessemer Venture Partners, the B2B online marketplace sector is projected to reach a market size of $200 billion by 2030.

Within this space, three key verticals are poised for the most growth: product marketplaces (offering goods across sectors like healthcare, agriculture, fashion, and FMCG to businesses), service marketplaces (linking companies with freelancers, consultants, and other service providers), and marketplace enablers (platforms that support businesses with tools for logistics, payments, quality assurance, and more).