B2B cross-border tech program Geniemode has raised $28 million in a Series B round, which it will use to expand further into international markets and strengthen its supplier base in India and Southeast Asia.
According to a Business Standard report Thursday (April 28), the funding will also be used to bolster its tech platform with new features and details.
Geniemode was founded in May 2021, and works with buyers and manufacturers of furniture, home textiles, apparel and accessories to try and streamline and control the end-to-end supply chain. The company works with around 150 manufacturers in India and Southeast Asia, and has buyers in various other places including the U.S., U.K., Latin America, Europe and Australia.
“We are excited about this round of funding as we will be able to realize the next phase of our vision and multiply what’s working for Geniemode,” said Amit Sharma, CEO and co-founder of Geniemode. “We intend to increase global presence with new offices across USA, UK and EU as we expand our sales & operations team. United States will be one of our key territories in the coming year.”
Fellow co-founder Tanuj Gangwani said the company was trying to help out smaller retailers, and wanted to add more efficiency for their operations.
“Our platform empowers them with features, insights and supplier network that only big brands could afford, hence building a powerful & transparent supply chain within everyone’s reach,” Gangwani said.
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PYMNTS wrote that Geniemode raised $7 million in a Series A funding round in January, with the funds planned to help scale the company’s tech platform, work on design capabilities, expand geography and add new buyers and vendors.
See also: Series A Round Grants Geniemode $7M in Funding
“We are focused on becoming the top platform of choice for all international buyers across home, furniture, fashion and accessories and other design-led categories,” Gangwani said at the time.
