Geniemode Secures $50 Million in Series C Funding to Fuel Global Expansion
- Geniemode has raised $50 million in Series C funding, led by Multiples Alternate Asset Management, to support global expansion.
- The company works with over 200 suppliers in India, Bangladesh, Pakistan, and Sri Lanka, serving clients in the US, UK, EU, and Australia.
Apparel sourcing startup Geniemode has successfully raised $50 million in a Series C funding round, led by Multiples Alternate Asset Management, with participation from Fundamentum, Paramark Ventures, and existing investor InfoEdge Ventures.
The funds will be used to enhance the company’s technology-driven supply chain solutions and to accelerate its global expansion.
Founded in 2021 by Amit Sharma and Tanuj Gangwani, Geniemode operates a B2B platform that connects small and medium-sized manufacturers with global buyers, enabling direct product customization and delivery tracking.
The platform currently works with over 200 suppliers across India, Bangladesh, Pakistan, and Sri Lanka, servicing clients in the US, Latin America, the UK, the EU, and Australia.
The company also has offices in New York, London, Barcelona, China, Bangladesh, and India.
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“We are closing FY 2025 at $140Mn + GMV with a positive EBITDA run-rate of over $2 Mn. With this round, we intend to scale to new geographies and take the company public in coming years,”
said Tanuj Gangwani, Co-founder of Geniemode.
The funding comes as India’s apparel exports experienced an 11.9% year-on-year growth in August of the previous year, signaling strong demand.
An IMARC report suggests that nearly 60% of brands plan to expand apparel sourcing from India in the next two years, contributing to the overall growth in the Indian textile and apparel market, which is expected to rise from $222.08 billion in 2024 to $646.96 billion by 2033.
Since its inception, Geniemode has already attracted significant investment, including a $7 million Series A round in 2022 and a $27.5 million round led by Tiger Global in 2022, as the company works towards scaling its operations and expanding its market presence.
Edited By Annette George
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