Apparel sourcing platform Geniemode has raised $50 million (around Rs 433 crore) in a Series C round, led by private equity firm Multiples, Fundamentum, Paramark Ventures and Info Edge Ventures.
Founded by Amit Sharma and Tanuj Gangwani in 2021, Geniemode will use the proceeds to expand to new geographies and improve its supply chain solutions. Currently, the company has offices in New York, London, Barcelona, China, and Bangladesh.
Geniemode is a sourcing and supply chain platform catering to buyers and manufacturers of home textile, furniture and fashion, according to the company website.
The Gurugram-based company started by offering end-to-end services such as sourcing of design intelligence, optimized manufacturing and delivery.
“We are excited to partner with Multiples, Fundamentum and Paramark, and to leverage their deep expertise in scaling high-growth businesses. With this round, we intend to scale new geographies and take the company public in coming years,” said Tanuj Gangwani, co-founder and chief financial officer, at Geniemode.
The company’s 2024-25 revenues are likely to be around $140 million, double the previous year’s, Gangwani added. Earnings before tax, depreciation and amortization could be over $2 million (Rs 17 crore), he added, against an EBITDA loss of around Rs 70 crore in FY24.
“Our investment in Geniemode is part of our active strategy to back leading new-age businesses that are disrupting large markets using technology,” said Sridhar Sankararaman, managing director, Multiples Alternate Asset Management.
This marks Multiples’ second investment in 2025 after it invested $200 million in Qburst, along with other investors, in January.
The Raine Group was the exclusive financial adviser to Geniemode for this transaction.
