Geniemode Secures $50 Million to Revolutionize Apparel Sourcing

Geniemode, an apparel sourcing platform, has raised $50 million in a funding round led by Multiples Alternate Asset Management. The funds will support the company's global expansion, enhance supply chain solutions, and facilitate entry into new markets. Geniemode aims to create a scalable, transparent sourcing ecosystem.

Design-led apparel sourcing platform Geniemode announced on Monday it has secured USD 50 million in a funding round spearheaded by Multiples Alternate Asset Management. Prominent investors like Fundamentum, Paramark Ventures, and existing backer Info Edge Ventures also participated, according to a statement released by the company.

The fresh capital is earmarked for global expansion efforts and to bolster supply chain solutions. This strategic investment will also enable Geniemode to penetrate new markets and territories globally.

Geniemode aids global brands and retailers in sourcing, cost reduction, and speeding up market entry. With operations spanning New York, London, Barcelona, China, Bangladesh, and India, the company is poised for expansive growth. Co-founder and CEO Amit Sharma emphasized the investment aligns with their mission to establish a scalable and efficient sourcing ecosystem powered by AI and transparency.