B2B etailer Geniemode raises $7 million from InfoEdge Ventures, others

The fundraising, which comes within four months of the Gurugram-based firm’s $2.25-million seed round, will be utilised to scale the company’s tech platform to onboard more buyers and sellers, and for geographical expansion.

Founded in 2021 by Tanuj Gangwani, Smita Kansal and Amit Sharma, Geniemode allows global buyers to source reliably from suppliers in India and Southeast Asia. The company claims to have brought on board more than 100 small and large suppliers from the Indian subcontinent. It is currently working with more than a hundred suppliers from India, Bangladesh, Pakistan and Sri Lanka to cater to incoming demand.

“We are focused on becoming the top platform of choice for all international buyers across home, furniture, fashion and accessories, and other design-led categories,” Gangwani said. “Our goal is to offer a wide range of products, better pricing coupled with tech solutions to make the entire process of sourcing smooth & hassle-free.”

The company recently entered the United States and United Kingdom, thus strengthening its presence in the western hemisphere—a lucrative market for both buyers and sellers.

“We believe that the tailwinds are on our side and these fresh funds will help us execute our vision more rapidly,” Gangwani said. “We are on track to hit $100 million in annualised topline in the next twelve months.”