Geniemode, a rapidly growing business-to-business (B2B) cross-border e-commerce startup, has raised over $50 million in its Series C funding round. The investment was led by Multiples Alternate Asset Management, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures. The funding will support Geniemode’s global expansion, enhance its technology-driven supply chain solutions, and strengthen its position as a key global sourcing partner for large brands and retailers.
A History of Strategic Funding
Geniemode has demonstrated a strong track record of securing investment to fuel its expansion. In April 2022, the Tiger Global-backed company raised $28 million in a Series B round, led by Tiger Global, at a valuation of $162 million. Additionally, later that year, Geniemode raised $7 million in a Series A round, with Info Edge Ventures taking the lead. These investments have allowed the company to scale its operations, refine its sourcing and supply chain solutions, and expand into new markets.
Global Expansion and Enhanced Supply Chain Solutions
According to Geniemode, the newly raised capital will be instrumental in accelerating global expansion. The company aims to enter new markets and territories, strengthening its capabilities as a trusted sourcing partner for international brands and retailers. A major focus will be on leveraging technology to enhance supply chain efficiencies, streamlining operations from sample development and approval to shipping and delivery.
Geniemode’s Business Model and Industry Focus
Founded by Amit Sharma and Tanuj Gangwani, Geniemode operates as a B2B cross-border e-commerce platform specializing in sourcing solutions for furniture, home textiles, apparel, and accessories. The company facilitates seamless connections between buyers and suppliers, ensuring transparency, efficiency, and reliability throughout the procurement process.
By offering an end-to-end digital platform, Geniemode empowers buyers with real-time insights into supplier capabilities, production timelines, and logistics. This approach has been instrumental in reducing lead times, optimizing inventory management, and enhancing overall operational efficiency.
A Strong International Presence
Geniemode has successfully established its footprint in over 10 countries, working with more than 200 global buyers and suppliers. The company has offices in key strategic locations, including New York, London, Barcelona, China, Bangladesh, and India. This international network enables brands and retailers to source high-quality products from diverse manufacturing hubs worldwide.
Financial Performance and Future Outlook
Geniemode has experienced substantial growth, reporting Rs 556 crore in operating revenue in FY24. However, the company’s expenses amounted to Rs 641.23 crore, resulting in a loss of Rs 77.62 crore. Despite these losses, Geniemode remains optimistic about its financial trajectory.
Co-founder and CFO Tanuj Gangwani emphasized that the company has built a profitable business model while maintaining strong growth. Geniemode is expected to close FY25 with a gross merchandise value (GMV) of $140 million (approximately Rs 1,200 crore) and a positive EBITDA run rate of over $2 million (Rs 17 crore).
The Future of Geniemode in the Cross-Border E-commerce Space
Geniemode’s success underscores the growing demand for efficient, technology-driven sourcing solutions in the global e-commerce space. As more brands and retailers look to optimize their supply chains and reduce operational risks, companies like Geniemode are well-positioned to capitalize on these opportunities.
With a strong investor base, a well-established global presence, and a commitment to innovation, Geniemode is poised to become a dominant force in the B2B cross-border e-commerce sector. By continuing to refine its supply chain capabilities and expand into new regions, the company is set to achieve sustainable growth while delivering value to its buyers and suppliers worldwide.