Jobaaj Stories
The B2B arm of the multi-billion dollar JSW Group, JSW One Platform, has raised funds to the tune of $25 million at a valuation of around $335 million.
JSW One Platforms is the B2B e-commerce arm of the JSW Group. The company was incorporated in September 2018 while launching its businesses in 2021.
Firstly, JSW One MSME operates a multi-product online marketplace of construction materials that caters to industrial and construction MSMEs. It connects manufacturers to resources.
Next is JSW One Homes, the company's turnkey home solutions business. It helps customers build their homes and provides consultancy solutions. The company has also established an NBFC subsidiary and will seek an NBFC licence.
The company has raised Rs 205 crores at a valuation of Rs 2,750 crores from Japan's Mitsui & Co. According to its press release, the company will use the funds to improve its market share and invest further in technology, credit, and logistics. Moreover, it plans to expand to new locations such as Gujarat, Rajasthan, Chhattisgarh, and Madhya Pradesh.
According to Gaurav Sachdev, CEO of JSW One Platforms, the company had a GMV of $250 million in FY23, expecting the same to hit $1 billion in FY24. He also expects the company to be profitable by FY27.
JSW Steel, a flagship company of the JSW Group, was trading at around Rs 704.65 per share at the time of reporting, up 2.4%.
- Aman Agarwal
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