JSW One Platforms raises Rs 340 cr from Principal Asset Management, others

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JSW One Platforms raises Rs 340 cr from Principal Asset Management, others - Business Standard

Quick Summary:

The newly raised capital will strengthen the national supply chain in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and Non-Banking Financial Company (NBFC) arms, and enable wider access to credit for Micro, Small, and Medium Enterprises (MSME), it said.

The valuation has jumped by over three times since the last round of funding in April 2023, a company statement said, adding that it had then raised Rs 205 crore from Japan's Mitsui & Co.

The conglomerate's steel arm JSW Steel also participated in the round, after which the JSW One Platforms' valuation catapulted to USD 1 billion making it enter the coveted unicorn club.