Geniemode Secures $50M Series C to Boost Global Trade Operations

Cross-border trade startup Geniemode has raised over $50 million in Series C funding, led by Multiples Alternate Asset Management. Fundamentum, Paramark Ventures, and Info Edge Ventures, an existing backer, joined the round.

The B2B platform, which helps retailers source furniture, home textiles, and apparel, will use the funds to expand globally and strengthen its tech-driven supply chain solutions. The company operates in over 10 countries through offices in New York, London, Barcelona, China, Bangladesh, and India.

This latest funding follows the Tiger Global-led $28 million Series B round in April 2022, which valued the company at $162 million. The firm had earlier raised $7 million in Series A funding from Info Edge Ventures.
Founded by Amit Sharma and Tanuj Gangwani, Geniemode streamlines international sourcing for retailers - from supplier discovery to sample development and shipping. The platform works with over 200 global buyers and suppliers.

CFO Gangwani revealed the company is set to close FY25 with $140 million (about Rs 1,200 crore) in GMV and a positive EBITDA run rate exceeding $2 million (Rs 17 crore). Financial data from TheKredible shows the firm posted Rs 556 crore in operating revenue for FY24, with expenses of Rs 641.23 crore leading to losses of Rs 77.62 crore.