Indian B2B cross border sourcing and supply chain Geniemode raises USD 7 million in Series A

India-based Geniemode, an online platform that enables a supply chain network to serve all types of clients from unbranded stores to the world’s largest retailers, raised USD 7 million on 4th January 2022.

Investors: The investment round was led by Info Edge Ventures. Geniemode previously secured USD 2.25 million in a seed round four months ago.

Purpose of funding: Using the funding, the startup is primarily interested in scaling its service offering, geographical reach, customer experience, and smoothing delivery process.

About Geniemode

Founded in 2021 by Amit Sharma, Tanuj Gangwani, Geniemode is located in Gurgaon, India. Geniemode is an online platform that enables a supply chain network to serve all clients, from unbranded stores to the world’s largest retailers. Using digital technology, the startup facilitates seamless buying experiences by aggregating and managing local and global suppliers across multiple markets.

What the founders have to say

“We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession. We will utilise the fresh capital to bolster tech and product development, accelerate expansion in existing markets and enter new markets,” said Amit Sharma, CEO and Co-Founder at Geniemode.

“We are focused on becoming the top platform of choice for all international buyers across home, furniture, fashion and accessories, and other design-led categories. Our goal is to offer a wide range of products, higher flexibility on MOQs, better pricing coupled with a tech solution to make the entire process of sourcing smooth and hassle-free. We now have a presence in US and UK to strengthen our reach amongst international customers. We believe that the tailwinds are on our side, and these fresh funds will help us execute our vision more rapidly. We are on track to hit US$ 100mn in annualised topline in the next twelve months,” said Tanuj Gangwani, CFO and Co-Founder at Geniemode.

What the investor has to say

“We are excited to strengthen our partnership with the Geniemode team as they emerge as the platform of choice for global buyers in furniture, home, fashion and allied categories. They have been executing par excellence with amazing capital efficiency and built a very high-quality leadership team. Cross border e-commerce is a huge market with significant tailwinds, and Geniemode is rapidly capturing market share to take design-led manufacturing from the Indian subcontinent to the world,” said Kitty Agarwal, Partner at Info Edge Ventures.

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