Geniemode, a business-to-business cross-border e-commerce startup, has raised over $50 million in its Series C round, led by Multiples Alternate Asset Management, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures.
In April 2022, the Tiger Global-backed company raised $28 million in its Series B round, led by Tiger Global, at a valuation of $162 million. It also raised $7 million in a Series A funding round led by Info Edge Ventures later that year.
The proceeds will be used for global expansion and to enhance its technology-driven supply chain solutions, Geniemode said in a press release. It will also use the funding to enter new markets and territories, further strengthening its position as a global sourcing partner for large brands and retailers.
Founded by Amit Sharma and Tanuj Gangwani, Geniemode is a B2B cross-border e-commerce startup for buyers in furniture, home textiles, apparel, and accessories. It facilitates the creation and discovery of the right suppliers, ensuring that the entire process—from sample development and approval to shipping—is streamlined.
The company operates in over 10 countries with more than 200 global buyers and suppliers. With offices in New York, London, Barcelona, China, Bangladesh, and India, Geniemode has built an international network that enables brands to source products from different regions.
According to TheKredible, Geniemode reported Rs 556 crore in operating revenue in FY24, with expenses of Rs 641.23 crore and losses of Rs 77.62 crore.
Co-founder and CFO Gangwani said that the firm has created a profitable business while ensuring growth, and it is closing FY25 with a GMV of $140 million (close to Rs 1,200 crore) and a positive EBITDA run rate of over $2 million (Rs 17 crore).