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JSW One Has Entered in Unicorn Startup After Raising 340 Cr
JSW One Platform is a tech-led B2B e-commerce platform that has just made space in the list of unicorn startups after raising 340 crore in startup funding. The funding round was led by Principal Asset Management, One Up, JSW Steel, and other investors. The current $1 billion valuation marks a hike of over 3x from its previous funding round in April 2023.
Summary:
1. JSW One Platforms, a tech-led B2B e-commerce startup, has raised 340 crore in a funding round led by Principal Asset Management, One Up, and JSW Steel.
2. The $1 billion valuation is over 3x higher than its previous round in April 2023. JSW One Platforms offers diverse services such as end-to-end ecosystems, including commerce, credit, and fulfilment, aiming to make sourcing easier and fuel growth for over 500,000 buildings and manufacturing MSME’s across India.
3. The funding will help JSW One Platforms broaden its service network, grow private brands and NBFC business, and spend more on technology and distribution
In April 2023, JSW One secured 205 crore funding from Japan Mitsui and Co., which helped in boosting credit and managing capabilities, and expanded its reach into new markets.
Now, many of you wonder what the JSW One platform is, and what they do? So, let us give you about this latest startup news in India.
What does JSW One Platforms do?
JSW One platform offers diverse services such as an end-to-end ecosystem, including commerce, credit, and fulfilment. The goal of this B2B platform is to make sourcing easier and fuel growth for over 500,000 buildings and manufacturing MSME’s across the country.
“JSW One Platforms is beyond just a platform; it is how India’s MSMEs buy, finance, and grow,” commented Parth Jindal, Chairman of JSW One Platforms.
“We’re addressing crucial pain points by merging our technology-driven distribution model with JSW Group’s manufacturing expertise. “We have the resources to meet the ambitions of India’s expanding MSME sector,” Jindal remarked.
Now the question is how JSW One platform is going to leverage this investment further.
So, according to sources, ahead of this latest startup news, the tech startup is planning to use the funding to build national supply chain leadership in the steel and cement sectors, detailed distribution and planning networks across India, grow the fintech and NBFC farms, and allow more access to credit for MSMEs.
This will be accomplished by developing a strong technology stack that offers a genuinely integrated and online purchasing journey for small firms, according to the company.
Gaurav Sachdeva, Joint Managing Director & CEO of JSW One Platforms, stated, “JSW One’s mission is to provide dependable purchasing for MSMEs through quality materials, timely delivery, and appropriate financial options. The funding helps us to broaden our service network, grow our private brands and NBFC business, and spend more on technology and distribution. We are developing a supply chain that will continue to improve efficiency for MSMEs throughout India.”
JSW (Jindal South West Foundation) The JSW Group, worth US$ 24 billion, is one of India’s major corporate houses. JSW’s innovative and sustainable presence in a variety of sectors, including steel, energy, infrastructure, cement, paints, B2B ecommerce, venture capital, defence, green mobility, and sports, enables the Group to play a vital role in supporting India’s economic progress. The company seeks excellence by utilizing its strengths and capabilities, which include a proven track record of completing technically challenging and expensive projects, a unique product mix, cutting-edge manufacturing facilities, and a stronger emphasis on pursuing sustainable growth.
JSW Group directly employs almost 40,000 people from India, the United States, Europe, and Africa, representing a globally diversified workforce.
It also has a significant social development focus, to empower the local community surrounding its plant and port locations. JSW Group is well-known for creating value for all its stakeholders by combining a growth strategy, exceptional execution capabilities, and an unwavering commitment to being better every day.
