Tiger World-backed B2B sourcing platform Geniemode has raised over $50 million in a Collection C funding spherical led by Multiples Alternate Asset Administration. The spherical additionally included a secondary part and noticed participation from Nandan Nilekani’s Fundamentum, Paramark Ventures, and current investor Information Edge Ventures.
This funding comes practically two and a half years after Geniemode secured $28 million in a Collection B spherical led by Tiger World, which had valued the corporate at $175 million, in line with information from Traxcn.
The newly raised capital shall be used to drive international growth, improve provide chain capabilities, and enter new markets, the corporate introduced on February 24.
Amit Sharma, co-founder & CEO of Geniemode, stated, “This funding accelerates our mission to construct probably the most environment friendly, clear, and scalable sourcing ecosystem, empowering manufacturers with AI-powered design capabilities, velocity, flexibility, and accountable sourcing options.”
Based by Amit Sharma and Tanuj Gangwani, Gurugram-based Geniemode supplies an AI-powered, asset-light sourcing platform for retailers. It connects consumers and producers throughout industries similar to furnishings, dwelling textiles, attire, and equipment, streamlining the whole provide chain from design to supply.
Working throughout a number of areas, together with the US, UK, Europe, China, Bangladesh, and India, Geniemode provides an environment friendly sourcing resolution. The corporate’s web site highlights its in depth community of over 250 suppliers and greater than 100 consumers throughout 16 international locations.
The founders anticipate closing FY25 with a gross merchandise worth (GMV) exceeding $140 million and a constructive EBITDA run price of over $2 million.
Tanuj Gangwani, Co-founder & CFO, stated, “With this spherical, we intend to scale to new geographies and take the corporate public within the coming years.”
Fundamentum’s Co-founder and Basic Accomplice Ashish Kumar highlighted Geniemode’s function in digitizing the fragmented attire business, whereas Information Edge Ventures’ Accomplice Kitty Agarwal described it as a ‘clear market chief’ within the B2B cross-border vogue phase. The contemporary funding is anticipated to help the corporate’s inorganic progress technique.
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