Tiger Global leads $28m round of Indian B2B startup

Geniemode, a cross-border B2B platform for lifestyle goods, has raised US$28 million in a series B round led by Tiger Global.

Geniemode founders Tanuj Gangwani (left) and Amit Sharma / Photo credit: Geniemode

Existing investor Info Edge Ventures, which was part of the company’s US$7 million series A funding round four months ago, also took part in this raise. The VC firm also led the startup’s US$2.3 million seed funding round in September 2021.

Founded in May 2021 by Amit Sharma and Tanuj Gangwani, Geniemode connects buyers to manufacturers of lifestyle goods such as furniture, home textiles, and apparel to streamline the supply chain from design to delivery.

The India-based firm works with more than 150 manufacturers based in India and Southeast Asia, along with buyers from the US, the UK, Latin America, Europe, and Australia.

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The latest investment will be used to open new offices across the US, the UK, and the European Union, as well as to expand Geniemode’s sales and operations team. The company will also develop its tech platform with new features.

Geniemode is on track to hit over US$200 million in annualized gross merchandise value by the end of fiscal year 2023.