B2B Startup Geniemode Raises $7 Million In Funding
B2B cross-border e-commerce startup Geniemode has raised $7 million in a Series A funding round led by Info Edge Ventures, the investment arm of Info Edge (India) Ltd.
The startup plans to use the raised funds to scale the company’s tech platform to onboard more buyers and sellers and for geographical expansion.
Geniemode | Transforming Global Sourcing For Retailers & Brands
Founded by Tanuj Gangwani and Amit Sharma in 2021, Geniemode is a Gurugram-based startup that is transforming global sourcing for retailers & brands in the furniture, hard goods & fashion industry using technology.
The B2B startup allows global buyers to source reliably from suppliers in India and Southeast Asia.
Speaking on the development, Tanuj Gangwani, Co-founder of Geniemode, said,
“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, better pricing coupled with tech solutions to make the entire process of sourcing smooth & hassle-free.”
Geniemode claims to have brought on board more than 100 small and large suppliers from the Indian subcontinent. The B2B startup is currently working with more than a hundred suppliers from India, Pakistan, Bangladesh, and Sri Lanka to cater to incoming demand.
In September 2021, Geniemode raised $2.25-million in a seed funding round led by Info Edge Ventures and Temasek with participation from several angel investors.
Geniemode recently entered the United States and the United Kingdom, thus strengthening its presence in the western hemisphere, a lucrative market for both buyers and sellers. As per Tanuj Gangwani, the startup is on track to hit $100 million in annualised topline in the next twelve months.
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