BENGALURU (Reuters) – India’s JSW One Platforms, a unit of conglomerate JSW Group, on Monday, said it raised 2.05 billion rupees ($25.02 million) from Japan’s Mitsui & Co Ltd in its series A funding round.
The funding will strengthen its market presence and further enhance tech capabilities, JSW One Platforms said in a statement, adding that the investment values the company at over 27.50 billion rupees.
The business-to-business e-commerce firm, rolled out by JSW Group in 2021, services the supply chain needs of industrial and construction companies in the micro, small, and medium enterprises (MSME) space.
Mitsui, in the same statement, said it believes the investment will lead to a restructuring of the supply chain in India.
JSW One Platforms added that it will use the funds to strengthen its market presence and enhance tech capabilities.
($1 = 81.9370 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman)
