Geniemode raises $50M Series C for apparel sourcing

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Geniemode, a Gurugram-based design-led apparel sourcing platform, has secured over $50 million in a Series C funding round led by Multiples Alternate Asset Management, with participation from Fundamentum, Paramark Ventures, and existing investor Info Edge Ventures. The funding will be utilized for global expansion, enhancing its AI-driven supply chain solutions, and entering new markets. Founded by Amit Sharma and Tanuj Gangwani, Geniemode offers a seamless, transparent, and efficient sourcing platform for retailers worldwide. With operations across multiple countries, it aims to strengthen its position as a key global sourcing partner. The company projects FY25 revenues of $140M+ GMV with a positive EBITDA run rate exceeding $2M. Investors believe Geniemode’s asset-light, tech-driven model is revolutionizing apparel sourcing.

1. Understanding Geniemode’s Business Model

1.1 Overview of Geniemode’s Operations

Geniemode operates as a tech-driven B2B sourcing platform specializing in apparel, accessories, furniture, and home textiles. It connects retailers and brands with suppliers, optimizing the supply chain to reduce costs and increase efficiency. The company leverages AI-powered design intelligence and data analytics to offer trend-driven sourcing solutions.

1.2 Revenue Model

Geniemode operates on a commission-based revenue model, charging fees on transactions between suppliers and buyers. Additionally, it offers value-added services such as design consultation, sustainable sourcing options, and quality control, generating additional revenue streams.

1.3 Founders and Background

Founded in 2021 by Amit Sharma and Tanuj Gangwani, Geniemode is led by industry veterans with decades of experience in supply chain management, fashion sourcing, and technology integration. Their expertise has enabled the company to build an efficient, scalable, and transparent sourcing ecosystem.

2. Funding Journey and Investment Details

2.1 Previous Funding Rounds

Before the recent Series C round, Geniemode had raised $28 million in a Series B funding round led by Tiger Global in 2022, valuing the company at $175 million. With this latest funding, its valuation is expected to rise significantly.

2.2 Series C Funding Details

The $50M+ Series C funding was led by Multiples Alternate Asset Management, alongside Fundamentum, Paramark Ventures, and Info Edge Ventures. This round also included a secondary component, allowing early investors to exit partially.

2.3 Utilization of Funds

Geniemode plans to use the fresh capital for:

• Global expansion into new geographies
• Enhancing AI-driven design and supply chain technology
• Strengthening supplier networks and ethical sourcing practices
• Preparing for an IPO in the coming years

3. Geniemode’s Market Presence and Expansion Strategy

3.1 International Presence

Geniemode has offices in major markets, including New York, London, Barcelona, China, Bangladesh, and India. It has built an international presence that enables brands to source efficiently across multiple regions.

3.2 Expansion Plans

With the new funding, Geniemode aims to:

• Expand into additional European and North American markets
• Strengthen its supplier ecosystem across Asia
• Offer innovative AI-powered design capabilities
• Focus on sustainable and ethical manufacturing

4. Industry Trends and Geniemode’s Competitive Edge

4.1 Global Apparel Sourcing Trends

• The apparel industry is witnessing a shift towards sustainability and digitization.
• AI and automation are playing a crucial role in optimizing supply chains.
• Brands are looking for sourcing partners who provide transparency and agility.

4.2 How Geniemode Stands Out

• AI-driven Sourcing: Uses machine learning for trend forecasting and demand prediction.
• Sustainability Focus: Ensures ethical sourcing and eco-friendly manufacturing.
• Scalability: Asset-light model allows rapid expansion and adaptation.
• End-to-End Capabilities: Offers design intelligence, manufacturing, and delivery under one platform.

5. Investor Insights and Future Outlook

5.1 What Investors Say

• Sridhar Sankararaman (MD, Multiples Alternate Asset Management): “Geniemode is disrupting the apparel sourcing landscape with its tech-driven model, making supply chains more efficient and transparent.”
• Ashish Kumar (Co-founder, Fundamentum): “Geniemode is digitizing a fragmented industry, offering retailers an end-to-end AI-powered solution.”
• Kitty Agarwal (Partner, Info Edge Ventures): “The company is a market leader in B2B cross-border fashion sourcing, poised for massive growth.”

5.2 Future Plans

• Geniemode aims to close FY25 with over $140M GMV and $2M+ EBITDA.
• The company is preparing for a potential IPO in the near future.
• Expansion into new product categories and markets.

6. Learning for Startups and Entrepreneurs

6.1 Key Takeaways

• Leverage Technology: AI-driven innovation can disrupt traditional industries.
• Focus on Scalability: An asset-light model enables faster global expansion.
• Sustainable Growth: Ethical and sustainable sourcing is a key differentiator.
• Investor Confidence: Strong unit economics attract high-profile investments.

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