JSW One Platforms, the B2B e-commerce enterprise of the JSW Group, stated it has raised ₹205 crore from Japan’s Mitsui & Co. Ltd. in a collection A funding spherical. “The Series A funding round values JSW One Platforms at over ₹2,750 crore,” the entity stated in an announcement.
Parth Jindal, Director, JSW One Platforms stated, “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, stated , “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. stated, “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 stated it’s going to utilise the funds to strengthen its market presence and additional improve tech capabilities. The firm stated it will develop operations in newer geographies like NCR, Gujarat, Rajasthan, Madhya Pradesh, and Chhattisgarh to cater to nearly all of the states in India and also will spend money on credit score, logistics, and know-how stack.
