Geniemode raises $7 mn led by Info Edge Ventures

The global B2B cross-border e-commerce company Geniemode has raised $7 million (about Rs 52 crore) led by Info Edge Ventures.

This fresh funding comes within four months of its $2.25 million Seed round.

The new infusion of capital will be utilised to scale the company's tech platform, expand geographically, increase its design capability and expand buyers and vendors base on the platform, the company said in a statement.

The company is a fast growing B2B e-commerce startup, with demand for its products from buyers in the US, LatAm, the 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,'' it added.

Geniemode has raised $7 million in series A funding round from Info Edge Ventures, the statement said.

Talking about the new investment, Amit Sharma, CEO and Co-Founder, Geniemode said, “We are very excited to have Info Edge Ventures double down on their conviction in us in quick succession.''

''We'll utilise the fresh capital to bolster tech and product development, accelerate expansion in existing markets and enter new markets,” he added.

(With inputs from PTI

Published on: Tuesday, January 04, 2022, 05:00 PM IST