Gurguram, India-headquartered B2B cross border tech startup for lifestyle and goods, Geniemode, raised USD 28 million in Series B funding. The round took place on April 28, 2022. Tiger Global Management led the round for Geniemode. Meanwhile, the round saw participation from existing investor Info Edge Ventures.
Purpose of Funding for Geniemode
Geniemode plans to penetrate deeper into key international markets with fresh capital. It also plans to strengthen its supplier base across India and Southeast Asia (SEA). Besides, the funding will help further strengthen the company’s technology platform with new features and details.
What the founders have to say
CEO and Co-founder Amit Sharma said, “We are excited about this round of funding as we will be able to realise 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.”
In addition, co-founder Tanuj Gangwani said, “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.”
What the investors have to say
Griffin Schroeder, Partner at Tiger Global Management, said, “Geniemode platform can transform the global sourcing and supply chain for lifestyle goods by streamlining and providing cost transparency at every step in the design, manufacturing and delivery process. We are impressed with Genimode’s strong momentum and are excited to partner with the team as they expand into new markets.”
“We have been partners with the Geniemode team since inception and led their seed and Series A rounds in rapid succession due to very high conviction in the team and their excellent execution. They have emerged as market leaders in cross-border e-commerce for global buyers of lifestyle goods. We are thrilled to welcome Tiger Global as a partner in this journey,” said Kitty Agarwal, Partner at Info Edge Ventures.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
