Source: sustainabilitymag
Geniemode has secured US$50m in Series C funding to expand its global sourcing operations, with a view to making clothing supply chains more sustainable.
Geniemode, the design-centric apparel sourcing platform, has successfully raised more than US$50m in a Series C funding round, with Multiples Alternate Asset Management at the helm. Joining the funding initiative are key investors such as Fundamentum, Paramark Ventures, along with existing backer Info Edge Ventures. This financial boost is earmarked for pushing Geniemode’s boundaries into fresh markets and augmenting its technology-driven supply chain solutions, solidifying its status as a formidable sourcing ally for prestigious brands and retailers globally.
The incorporation of AI in design innovation alongside procurement empowers brands with access to data-driven trend insights, digital prototyping and predictive analytics. This fusion ensures that brands aren’t just rapidly responding to market demand but are also curbing wastage and trenchantly improving sustainability.
Amit Sharma, Co-Founder and CEO of Geniemode, believes this integration is a distinctive advantage. “At Geniemode, we are redefining global sourcing by seamlessly integrating technology, AI-driven design innovation and a sustainable, agile supply chain to help brands and retailers stay ahead of the curve,” he says. “This investment accelerates our mission to build the most efficient, transparent and scalable sourcing ecosystem, empowering brands with AI-powered design capabilities, speed, flexibility and responsible sourcing solutions.”
Sridhar Sankararaman, Managing Director at Multiples Alternate Asset Management, regards Geniemode as an innovator in this sector. “Global macro trends are reshaping the apparel sourcing landscape, driving a rebalancing of supply chains,” he says. “Our investment in Geniemode is part of our active strategy to back leading new-age businesses that are disrupting large markets using technology. Backed by the vision of founders Amit and Tanuj, and their over two decades of sourcing experience, Geniemode offers a true 360-degree solution to global brands and retailers.”