JSW One Platforms, the B2B e-commerce venture of the JSW Group, said it has raised ₹205 crore from Japan’s Mitsui & Co. Ltd. in a series A funding round. “The Series A funding round values JSW One Platforms at over ₹2,750 crore,” the entity said in a statement.
Parth Jindal, Director, JSW One Platforms said, “Mitsui’s decision to invest in our e-commerce business validates our long-term strategic vision to capitalize on technology to take a strong leadership position in the B2B e-commerce sector.”
Gaurav Sachdeva, CEO, JSW One Platforms, said , “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.”
Masaharu Okubo, Managing Officer, Country Chairperson in India of Mitsui & Co., Ltd. said, “Our investment and partnership with JSW One Platforms not only signals our belief in the firm’s robust business model, but also our conviction in the long-term growth prospects of the B2B e-commerce space, which was catalysed by the COVID-19 pandemic.”
JSW One Platforms said it will utilise the funds to strengthen its market presence and further enhance tech capabilities. The company said it would expand operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh to cater to the majority of the states in India and will also invest in credit, logistics, and technology stack.
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