Geniemode, an India-based business to business (B2B) cross-border tech platform for lifestyle goods, said Friday it has scooped up $28 million Series B funding led by Tiger Global.

Existing investor Info Edge Ventures, also doubled down in the round, Geniemode said in a statement. The new round has come within just four months of the company closing its $7 million Series A led by Info Edge.

With this capital, the team is planning to deepen its penetration in key international markets and strengthen its supplier base across India and Southeast Asia (SEA).

“We are excited for this round of funding as we will be able to realize the next phase of our vision and multiply what’s working for Geniemode. We intend to increase global visibility with brand new offices across United States, United Kingdom and Europe with aggressive sales and operations team.

“United States will be one of our key territories in the coming year and we will completely streamline our on-shore operations to solve the supply chain issues faced by all kinds of retailers and suppliers. The funding will also help further strengthen our technology platform with new features and details. The evolved version will empower businesses with innovative solutions,” said Geniemode Chief Executive Officer and Co-Founder Amit Sharma.

Geniemode Co-Founder Tanuj Gangwani also said the fresh infusion of capital will be earmarked for international expansion, to build high calibre team and further build out the platform.

“Small retailers are drastically underserved by existing sourcing and supply chain infrastructure. We’re excited about what we are building and the efficiency it brings to these retailers. Our platform empowers them with features, insights and supplier network that only big brands could afford, hence building a powerful and transparent supply chain within everyone’s reach,” he added.

Founded in May 2021, Geniemode works with buyers and manufacturers of furniture, home textiles, apparel and accessories to streamline and take control of end-to-end supply chain, from design to delivery. It has created a tech platform for buyers with end-to-end transparency of cost, based on minimum order quantities (MOQs), quality assurance, design library, and complete order management including compliance, tracking, inspection, communication, information storage library, and logistics.

By leveraging artificial intelligence (AI) and big data, the platform offers an insightful, transparent, and hyper-efficient way for companies to work with the right suppliers.

Within less than a year of inception, Geniemode is working with 150+ manufacturers from India and SEA. They have been able to onboard many new buyers who have never procured from India from geographies like the United States, United Kingdom, Latin America, Europe, Australia and work with several marquee international retailers. The company is on track to hit $200 million in annualized gross merchandise value (GMV) run-rate by the end of financial year 2023.

“Geniemode platform is poised to transform the global sourcing and supply chain for lifestyle goods by streamlining and providing cost transparency at every step in the design, manufacturing and delivery process. We are impressed with Genimode’s strong momentum are excited to partner with the team as they expand into new markets,” said Griffin Schroeder, Partner at Tiger Global Management.

Meanwhile, Info Edge Ventures Partner Kitty Agarwal said: “We have been partners with the Geniemode team since inception and led their seed and Series A in rapid succession due to very high conviction in the team and their excellent execution. They have emerged as market leaders in cross-border e-commerce for global buyers in lifestyle goods. Cross border e- commerce is a very large, fragmented market with significant tailwinds and there is huge opportunity and pride in taking design-led manufacturing from the Indian subcontinent to the world.”

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