202106 Sep

B2B Cross-Border Supply Chain Startup Geniemode Raises Funds Led By InfoEdge Ventures

Summary

The startup is on track to have 1,000 suppliers from India and South East Asia with over $50 Mn in revenue in the next 6-12 months Geniemode founders aim to build an end-to-end global sourcing ecommerce and tech-strapped supply chains in furniture, home decor and furnishing, accessories and fashion The seed round of $2.25 Mn saw participation from angel investors including Zomato’s Deepinder Goyal, CRED’s Kunal Shah, Apache Cassandra’s Prashant Malik and EthAum Venture’s Pankaj Gupta Delhi-based B2B cross-border sourcing and supply chain startup Geniemode has closed a seed round of $2.25 Mn led by Info Edge Ventures. The round also saw participation from angel investors including Zomato’s Deepinder Goyal, CRED’s Kunal Shah, Apache Cassandra’s Prashant Malik, and EthAum Venture’s Pankaj Gupta. Founded in March 2021 by Amit Prakash Sharma and Tanuj Gangwani, the company aims to organise the global sourcing and supply chain market. “More than 80% of the furniture, hard goods, home soft furnishing and fashion manufacturing is done by MSMEs (Micro, Small & Medium Enterprises) across clusters in India. Under its Samarth Initiative, Flipkart works closely with NGOs and government bodies to promote and encourage rural entrepreneurs, with a special focus on women-led enterprises, artisans and weavers.

Source: Inc42

Funding

$2.25M
Amount
Sep 06 2021
Date
-
Investor
Geniemode
Company

Classifications

Companies