JSW One Platforms Ltd., a technology-driven B2B e-commerce company, has secured nearly $40 million (Rs 340 crore) in a fresh funding round led by Principal Asset Management, OneUp, JSW Steel, and other investors, according to a company announcement on Tuesday.
With the latest funding, the company’s valuation has reached $1 billion, marking its entry into the coveted unicorn club, it said in statement. Unicorn is a term used to describe privately held companies with a valuation of $1 billion or more.
The new valuation marks a threefold increase from its previous valuation in April 2023, when JSW One Platforms raised Rs 205 crore from Japan’s Mitsui & Co.
The capital raised will strengthen national supply chain 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, the statement said.
“JSW One Platforms is more than a marketplace, it’s how India’s MSMEs procure, finance, and grow. We’re 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 Parth Jindal, Chairman, JSW One Platforms.
By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country, it added.
India has witnessed two startups achieve unicorn status in 2025 so far: Netradyne, which offers AI-powered logistics solutions; and Porter, an on-demand logistics platform. In comparison, six startups joined the unicorn club in 2024.
