JSW One Platforms, the B2B e-commerce venture of the JSW Group, has successfully closed its latest funding round at ₹575 crore, attracting marquee investors such as State Bank of India (SBI), Principal Asset Management, One-Up, International Conveyors Ltd. (ICL), Scarlett Ventures, and JSW Steel. The round, initiated in May 2025 with an initial ₹340 crore at a unicorn valuation, will power the company’s rapid expansion plans, tech innovation, and non-banking financial company (NBFC) arm.
What JSW One Platforms Does
Established in 2020, JSW One Platforms is India’s leading B2B digital marketplace serving the construction and manufacturing sectors, with a special focus on MSMEs (Micro, Small, and Medium Enterprises). The company operates two flagship divisions:
- JSW One Distribution: An e-commerce driven solution for procuring steel, cement, TMT, and construction materials, offering reliable sourcing, dynamic pricing, and logistics for businesses of all sizes.
- JSW One Finance: Its NBFC arm, which enables credit-backed procurement, embedded financial services, and tailored working capital solutions for MSMEs, making supply chain finance much more accessible.
The platform leverages JSW Group’s manufacturing strength, utilizing digital procurement, on-demand logistics, customized financial offerings, and technology-driven transparency. It also offers JSW One Homes, a service linking clients to professionals for project execution from land purchase through construction.
Funding History
- April 2023: Raised ₹205 crore ($25 million) from Mitsui & Co. at a ₹2,750 crore valuation—supporting early scale in credit and logistics capabilities.
- May 2025: Garnered ₹340 crore, entering ‘unicorn’ status with a valuation jump of over 3x from the previous round.
- October 2025: Closed the round at ₹575 crore with SBI, institutional investors, and JSW Steel joining in as backers.
Latest Financials and Growth Metrics
JSW One Platforms has shown remarkable growth:
- FY25: The company reported 2.4x YoY growth in gross merchandise value (GMV) to ₹12,567 crore, making it India’s largest steel-selling marketplace, with around 2 million tonnes of steel sold.
- Q1–Q2 FY26 Projections: Expected to surpass ₹8,000 crore in GMV in H1, sustaining over 50% annualized growth.
- Registered Base: Over 84,000 MSMEs now use JSW One’s tech platform, which also enabled about ₹3,800 crore in credit disbursements with banking and NBFC partners.
- FY24 Revenue: Stood at ₹70.7 crore with a net loss of ₹199.8 crore—reflecting aggressive investment for growth, scale, and tech development.
- Capabilities: The company’s platform handles highly configurable logistics, dynamic product catalogs (steel and allied products), and predictable pricing.
Strategic Plans
With new capital in hand, JSW One Platforms will fortify its tech stack, deepen MSME credit and analytics capabilities, enhance underwriting, and broaden its last-mile fulfilment network across India’s industrial clusters. The NBFC arm will receive a boost to roll out more tailored financing products for small businesses.
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Summary:
JSW One Platforms is rapidly emerging as a unicorn leader in India’s B2B commerce scene by digitizing procurement, logistics, and credit for construction and manufacturing MSMEs. Backed by heavyweight institutional and strategic investors, and showing exceptional GMV and user growth, the company is set to play a pivotal role in empowering India’s industrial and MSME ecosystem with technology, transparency, and integrated financial services
