Geniemode, a design-led apparel sourcing platform, has successfully raised over $50 million in a Series C funding round. This investment aims to fuel the company's global expansion and enhance its technology-driven supply chain solutions.
Key Details
- Funding Round: Series C
- Amount Raised: Over $50 million
- Lead Investor: Multiples Alternate Asset Management
- Participating Investors: Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures
- Use of Funds:
- Expansion into new geographies
- Inorganic growth opportunities
- Strengthening technology-driven supply chain solutions
- Financial Projections: Closing FY2025 with over $140 million in Gross Merchandise Value (GMV) and a positive EBITDA run-rate exceeding $2 million
Founders' Background
Geniemode was founded in May 2021 by Amit Sharma and Tanuj Gangwani.
- Amit Sharma: Founder and Chief Executive Officer (CEO)
- Prior Experience: Held positions at LimeRoad, FabFurnish, and Fashionandyou.com
- Tanuj Gangwani: Co-Founder and Chief Financial Officer (CFO)
Funding Details
This Series C round, led by Multiples Alternate Asset Management, also saw participation from:
- Fundamentum: A venture capital firm co-founded by Nandan Nilekani
- Paramark Ventures: An investment firm focusing on high-growth potential companies
- Info Edge Ventures: An existing investor in Geniemode
The fresh capital will support Geniemode's strategic initiatives, including entering new markets and pursuing inorganic growth opportunities. The company operates in multiple regions, including the US, UK, Europe, China, Bangladesh, and India, and plans to further strengthen its position as a global sourcing partner for major retailers.