Cross-border B2B technology program Geniemode has raised $28 million in a Series B funding round, which it will use to further expand 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 technology 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 to 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 locations including the US, UK, 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 works for Geniemode,” said Amit Sharma, CEO and co-founder of Geniemode. “We intend to grow our global presence with new offices in the US, UK and EU as we expand our sales and operations team. The United States will be one of our key territories in the coming year.
Co-founder Tanuj Gangwani said the company tries to help small retailers and wants to increase the efficiency of their operations.
“Our platform gives them features, insights and a network of suppliers that only big brands can afford, creating a powerful and transparent supply chain within everyone’s reach,” Gangwani said.
PYMNTS wrote that Geniemode raised $7 million in a Series A funding round in January, with the funds slated to help scale the company’s technology platform, work on design capabilities, expand geography and add new buyers and suppliers.
See also: Series A grants Geniemode $7 million in funding
“We strive to be the first platform of choice for all international buyers in home, furniture, fashion & accessories and other design-focused categories,” Gangwani told Reuters. ‘era.