Geniemode, a business-to-business (B2B) cross-border e-commerce startup, has successfully 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.
In April 2022, the Tiger Global-backed company secured $28 million in a Series B round led by Tiger Global at a valuation of $162 million. Additionally, Geniemode raised $7 million in a Series A round led by Info Edge Ventures later that year.
According to a press release, the newly acquired funds will be allocated toward global expansion and the enhancement of its technology-driven supply chain solutions. The company aims to penetrate new markets and territories, further solidifying its role as a global sourcing partner for large brands and retailers.
A Growing Global Footprint
Founded by Amit Sharma and Tanuj Gangwani, Geniemode specializes in B2B cross-border e-commerce, catering to buyers in furniture, home textiles, apparel, and accessories. The platform streamlines the sourcing process, from supplier discovery and sample development to approvals and shipping, ensuring efficiency and reliability.
Currently, Geniemode operates in over 10 countries and has built a strong network of more than 200 global buyers and suppliers. With offices in major international hubs such as New York, London, Barcelona, China, Bangladesh, and India, the company has successfully established itself as a key player in global sourcing.
Financial Growth and Profitability
Co-founder and CFO Tanuj Gangwani emphasized that Geniemode has built a profitable business model while sustaining growth. He revealed that the company is on track to close FY25 with a gross merchandise value (GMV) of $140 million (approximately Rs 1,200 crore) and a positive EBITDA run rate exceeding $2 million (Rs 17 crore).
With this fresh infusion of capital, Geniemode is poised to scale its operations further, leveraging technology and market expansion to drive sustained growth in the global B2B e-commerce landscape.
