Led · Equity · Oct 2025

JSW One Platforms operates a technology-driven B2B ecommerce marketplace where manufacturing and construction MSMEs can source steel, cement and other industrial materials while also accessing credit through the company’s growing NBFC arm. Backed by JSW Steel, the platform positions itself as an integrated procurement and financing solution, using proprietary technology to streamline sourcing, logistics, last-mile delivery and working-capital lending. In FY25 the company recorded gross merchandise value of Rs 12,567 crore, representing 2.4× year-on-year growth, and it is targeting Rs 8,000 crore GMV in the first half of FY26 while maintaining a 50%+ growth rate. Newly raised capital will fund further investment in its tech stack, expansion of distribution and logistics infrastructure, and enhanced underwriting to launch customised financial products. Management sees the NBFC arm as critical to bridging MSME working-capital gaps and plans to widen credit access on the platform. JSW One competes with OfBusiness, Jumbotail and Indiamart in India’s B2B commerce space.

Participated · Equity · Aug 2025

JSW Cement operates manufacturing facilities at Vijayanagar (Karnataka), Nandyal (Andhra Pradesh), Salboni (West Bengal), Jajpur (Odisha) and Dolvi (Maharashtra), and through subsidiary Shiva Cement runs a clinker unit in Odisha. The company is raising capital via a public issue comprising a fresh issue of up to ₹1,600 crore and an Offer for Sale of up to ₹2,000 crore, with the issue price fixed at ₹147 per equity share. JSW Cement plans to use ₹800 crore of the fresh-issue proceeds to build a new integrated cement plant in Nagaur, Rajasthan, and ₹520 crore for debt repayment, with the remainder for general corporate purposes. The IPO had an anchor allocation of 7.35 crore equity shares at ₹147 each, and the public issue will close on August 11. Fifty-two financial institutions participated as anchor investors in the allocation. The company’s near-term capital actions are focused on funding expansion and reducing leverage.

Led · Series B · Oct 2024

Bioniq builds AI-driven personalised supplements that are formulated from users' blood test results. The company, launched in 2019 in London, ships globally across five continents and offers products in 70 countries. It has created unique formulas for over 300,000 users and says its total user base will grow more than tenfold by the end of 2024. Bioniq has launched a hyper-personalised product called Build Your Own to allow more precise, goal-based nutrient routines. The company partners with health and sports institutions such as Lanserhof and the UFC, and counts elite athletes — including Soccer World Cup champions and NBA All‑Stars — among its users. Leadership emphasizes measurable before-and-after nutrient snapshots and proven optimisation as core assets for growth and credibility. Bioniq creates 100% customized daily supplements using advanced blood biomarker analysis combined with self-reported health data and a patent-pending AI algorithm. Each user receives a unique formula of up to 120 ingredients delivered in patented prebiotic guar granules designed for improved bioavailability and micro-dosing. Products are Swiss-made, pharmaceutical-grade, and the company offers daily nutrient support, 1:1 nutrition consultations, and educational resources. Bioniq reports sales in 70+ countries and a user base that grew more than fivefold this year, with the U.S. now contributing over 60% of global sales. The company highlights partnerships with leading health and sports institutions such as Lanserhof and the UFC and is used by elite athletes across sports. Management says it will accelerate global expansion with particular focus on the U.S., Europe, and the Middle East, and Cristiano Ronaldo will participate in future brand and product innovation. Bioniq builds AI-driven, patent-pending algorithms that generate personalized supplement formulas from blood biomarker data and individual inputs such as height, weight, age, lifestyle and health goals. The company offers Bioniq PRO, which integrates blood test data (including partner lab testing and 1:1 nutrition consultations), and Bioniq GO, a questionnaire-based, more accessible option. All supplements are Swiss-made, pharmaceutical-grade, micro-dosed and delivered in patented prebiotic guar granules to maximize bioavailability. Bioniq has compiled the largest proprietary biochemical database of its kind with blood test data from customers across five continents and has created unique formulas for over 100,000 users. The U.S. now represents over 50% of its customer base, with some regions growing more than 500% in the last two quarters, and the company partners with institutions such as Lanserhof and the UFC and serves elite athletes. It plans to use new funding to expand global laboratory integrations, accelerate product development, grow market, operational and HR presence in the U.S. and Middle East, and implement a corporate platform for medical, wellness, and athletic institutions. bioniq develops hyper-personalized supplement products, most recently launching bioniq GO, a subscription product priced at £49/month. GO leverages 3 million proprietary biochemical data points drawn from more than 50,000 blood tests across over 30,000 clients and 25 medical publications. The company says its GO formulas can include up to 34 components with as many as 10 million possible combinations and claims personalization 200,000 times higher than similar products. Founders include CEO Vadim Fedotov (a former German national team basketball player) and Dr. Konstantin Karuzin, a neurosurgeon who previously developed performance-improvement systems for professional athletes. Earlier this year bioniq acquired LOEWI, a scientific spin-off of TU München that provides tailor-made nutrients based on blood work and lifestyle. The company positions itself around data aggregation and digital health monitoring to improve personalization over time as it ingests new blood samples.