Geniemode raised $28M in Series B

Geniemode, a B2B cross-border tech platform for lifestyle goods, has raised $28 million in a Series B funding round. The round was led by Tiger Global and Info Edge Ventures.

Prior to this round, the company closed its $7 million Series A fundraise led by Info Edge.

Geniemode is planning to utilize the fresh funding

To penetrate deeper into key international markets,
To strengthen its supplier base across India and Southeast Asia (SEA).

Geniemode was founded by Amit Sharma and Tanuj Gangwani in May 2021. Geniemode works with buyers and manufacturers of furniture, home textiles, apparel, and accessories to manage and take control of the supply chain, starting from design to delivery. The company has built a tech platform for buyers with transparency of cost, quality assurance, design library, and end-to-end order management including compliance, tracking, inspection, communication, information storage library, and logistics.

By leveraging AI and big data, the platform guarantees to offer an insightful, transparent, and hyper-efficient way for companies to work with genuine suppliers.

Geniemode is now working with 150+ manufacturers from India and SEA. The firm has been able to onboard many new buyers who have never procured from India from geographies, and work with several marquee international retailers.

EXECUTIVE OPINION:

CEO and Co-founder Amit Sharma said, “We are excited about this round of funding as we will be able to realize the next phase of our vision and multiply what's working for Geniemode. We intend to increase our global presence with new offices across the US, the UK, and the EU as we expand our sales and operations team. The United States will be one of our key territories in the coming year and we will completely streamline our on-shore operations to solve the supply chain issues faced by all kinds of retailers and suppliers. The funding will also help further strengthen our technology platform with new features and details.”

“Small retailers are drastically underserved by existing sourcing and supply chain infrastructure. We’re excited about what we are building and the efficiency it brings to these retailers. Our platform empowers them with features, insights and supplier networks that only big brands could afford, hence building a powerful and transparent supply chain within everyone’s reach,” added Co-founder Tanuj Gangwani.

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Geniemode raised $28M in Series B

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