MUMBAI – JSW One Platforms Ltd, a business-to-business (B2B) e-commerce marketplace for construction and manufacturing enterprises, has raised ₹575 crore in a funding round with participation from the State Bank of India (SBI) and several institutional investors, the company said on Monday.
The platform provides procurement, fulfilment and credit services to small and medium-sized enterprises (MSMEs), leveraging the JSW Group’s network in steel, cement and logistics.
Principal Asset Management, One-Up, International Conveyors Ltd, Scarlett Ventures and JSW Steel also took part in the round, which began in May. JSW One said the funds will be used to expand its technology platform, scale operations and strengthen its non-banking financial company (NBFC) unit.
The company said it intends to improve access to credit for MSMEs and extend its distribution network across key industrial regions. Its NBFC arm will focus on enhancing underwriting capabilities and developing financial products suited for small businesses.
JSW One Platforms focus on MSME
Parth Jindal, Chairman of JSW One Platforms, said the partnership with SBI would support the company’s efforts to serve MSMEs through digital procurement and financing.
“JSW One Platforms has become a growth driver in India’s industrial ecosystem. With this funding, we are privileged to welcome SBI as a long-term partner while reaffirming our mission to empower MSMEs through tech-driven solutions,” Jindal said.
He added that the NBFC arm would “play a role in bridging the working capital gap for MSMEs”.
Gaurav Sachdeva, Joint Managing Director and CEO of JSW One Platforms, said the company aims to connect supply, credit and technology for small manufacturers.
“At JSW One, we are building a unified ecosystem that integrates supply, credit and technology to simplify procurement for MSMEs,” Sachdeva said.
Financial performance and business outlook
The company reported a gross merchandise value (GMV) of ₹12,567 crore for FY 2024–25, which it said represents a 2.4-fold increase over the previous year. It projected GMV of over ₹8,000 crore for the first half of FY 2025–26.
JSW One said it plans to use part of the new funding to enhance logistics and last-mile delivery operations. It did not disclose its current valuation or the size of SBI’s stake in the funding round.
The company said the investment reflects continued interest from institutional investors in India’s expanding B2B commerce and digital supply-chain sectors.
In May 2025, JSW One Platforms had raised ₹340 crore in a funding round led by Principal Asset Management and OneUp, with participation from JSW Steel and others. That round reportedly pushed the company’s valuation to USD 1 billion, giving it “unicorn” status.
Earlier, in April 2023, the company had raised ₹205 crore from Japan’s Mitsui & Co., helping it expand credit and logistics capabilities.
The company confirmed to TechObserver.in that the ₹575 crore is the total corpus raised in the funding round, which began in May 2025 with an initial ₹340 crore and has now been concluded.
Editor’s note: Updated to include the company’s clarification on the total amount raised in the funding round.
