Geniemode raises $28 mn in Series B from Tiger Global, Info Edge Ventures

Founded in May 2021, Geniemode works with buyers and manufacturers of furniture, home textiles, apparel, others to streamline and take control of end-to-end supply chain, from design to delivery

Geniemode, a B2B cross-border tech platform for lifestyle goods, has raised $28 million in Series B funding led by Tiger Global. Existing investor Info Edge Ventures, attended the round that comes four months after the company closed its $7 million Series A fundraise.

Geniemode, which was founded in May 2021, works with buyers and manufacturers of furniture, home textiles, apparel and accessories to streamline and take control of end-to-end supply chain, from design to delivery. 

Geniemode works with more than 150 manufacturers in India and South East Asia. It has buyers in the US, UK, Latin America, Europe, Australia and works with several marquee international retailers. 

The Gurgaon-headquartered  company, in a statement said, it is on track to hit over $200 million in annualized GMV run-rate by the end of FY23. With this capital, the team is planning to deepen its penetration in key international markets. It also plans to strengthen its supplier base across India and SEA.

“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 global presence with new offices across USA, UK and EU as we expand our sales & operations team. United States will be one of our key territories in the coming year…," said Amit Sharma, CEO and co-founder of Geniemode.

Sharma added that the funding will also help further strengthen its 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 network that only big brands could afford, hence building a powerful & transparent supply chain within everyone’s reach” said Tanuj Gangwani, co-founder of Geniemode. 

Griffin Schroeder, Partner at Tiger Global Management, commented, “Geniemode platform is poised to 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.”