Geniemode, a global business-to-business (B2B) cross-border e-commerce company, has raised $7 million in Series A funding led by Info Edge Ventures. The fundraising comes within four months of its $2.25 million seed round.
The raised funds will be used to scale the company's tech platform, expand geographically, increase its design capability, and expand buyers and vendors base on the platform.
The company is among the fastest-growing B2B e-commerce startups with strong demand for its products from buyers in the US, LatAm, UK, EU and Australia. The buyers range from small independent retailers to large retail chains in these countries. To cater to this demand, the company is working with more than a hundred suppliers from India, Bangladesh, Pakistan and Sri Lanka.
Talking about the new investment, Amit Sharma, CEO & Co-Founder, Geniemode says, "We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession. We'll utilize the fresh capital to bolster tech & product development, accelerate expansion in existing markets & enter new markets."
Adding on, Tanuj Gangwani, CFO & Co-Founder, Geniemode says, "We are focused on becoming the top platform of choice for all international buyers across home, furniture, fashion & accessories and other design-led categories. Our goal is to offer a wide range of products, higher flexibility on MOQs, better pricing coupled with a tech solution to make the entire process of...
Read Full Story: https://www.thehansindia.com/business/b2b-tech-platform-geniemode-raises-7-million-in-series-a-funding-from-info-edge-ventures-723108
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