Geniemode Raises $7 Million In Series A The funds will be utilized to scale the company's tech platform, expand geographically and increase its design capability
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The global B2B e-commerce company, Geniemode, has raised $7 million in Series A funding led by Info Edge Ventures.
The company is among the fastest-growing B2B e-commerce startups with strong demand for its product. The buyers range from small independent retailers to large retail chains. The company is working with more than a hundred suppliers from India, Bangladesh, Pakistan and Sri Lanka. The new infusion of capital will be utilized to scale the company's tech platform, expand geographically, increase its design capability and expand buyers and vendors base, said a statement.
"We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession. We will utilize the fresh capital to bolster tech and product development, accelerate expansion in existing markets and enter new markets," said Amit Sharma, CEO and co-founder of Geniemode.
"We are excited to strengthen our partnership with the Geniemode team as they emerge as the platform of choice for global buyers in furniture, home, fashion and allied categories. They have been executing par excellence with amazing capital efficiency and built a very high quality leadership team. 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 Venture.
Geniemode is a B2B cross-border tech platform enabling global buyers to source reliably from suppliers across India and southeast Asia. The company was founded by two professionals who have spent the last two decades at e-commerce companies like Limeroad, Fabfurnish and FashionandYou. Within less than a year of launch, Geniemode has seen impressive adoption from global buyers across the US, the UK, Europe and Australia and has 100-plus SMEs on board with large suppliers from the Indian subcontinent, added the statement.
