[Funding alert] Geniemode raises $7M in Series A led by Info Edge Ventures
Geniemode, a B2B (business-to-business) cross-border e-commerce company, has raised $7 million in a Series A funding round led by Info Edge ventures.
The startup allows catalogue creation and discovery, enabling access to the right suppliers.will use the fresh capital to scale its tech platform, expand geographically, increase its design capability and expand buyers and vendors base on the platform, according to a statement.
Amit Sharma and Tanuj Gangwani, the co-founders of Geniemode, have spent the last two decades at ecommerce companies including Limeroad, Fabfurnish, and FashionandYou.
The startup works with over 100 suppliers from India, Bangladesh, Pakistan, and Sri Lanka and has seen demand from the US, the UK, Mexico, and India.
“Our goal is to offer a wide range of products, higher flexibility on MOQs, better pricing coupled with tech solutions to make the entire process of sourcing smooth and hassle-free,” said Tanuj Gangwani, CFO and Co-Founder, Geniemode. “We are on track to hit $100mn in annualised topline in the next twelve months.”
The latest funding round comes only four months after the company’s $2.25 million seed round which saw participation from angel investors like Deepinder Goyal, Kunal Shah, Prashant Malik, Pankaj Gupta, among others.
“Cross border e-commerce is a very large market with significant tailwinds and Geniemode is rapidly capturing market share to take design-led manufacturing from the Indian subcontinent to the world,” said Kitty Agarwal, Partner at Info Edge Ventures. “We are focused on becoming the top platform of choice for all international buyers across home, furniture, fashion & accessories and other design-led categories.”