US Hedge Fund Tiger Global Invests $27.5 Mn In Ecommerce Startup GenieMode
- ByStartupStory | April 23, 2022
Renowned New-York based hedge fund has invested nearly 27.5 Million USD in leading B2B Ecommerce Startup GenieMode.The startup is raising 27.5 Million USD in an freshesh round of series B funding which will also witness participation from its existing investor Info Edge.
This new development in the form of investment comes four months after it raised about $7 Mn in a Series A round. In a general meeting held in late April, board members of the Gurugram-based ecommerce startup have approved to allot of 3,669 Series B CCPS to Tiger Global and Info Edge for nearly INR 210 crore.
This round also witnessed Moglix-backer Tiger Global infusing close to 20 Million USD in GenieMode.Tiger Global is now a frequent investor in various B2-B marketplaces, including Moglix, OfBusiness, and Infra. Market etc
GenieMode allows catalogue creation and discovery, thereby enabling access to the right suppliers. Amit Sharma and Tanuj Gangwani, the co-founders of Geniemode, have spent the last twenty years at e-commerce companies including Fabfurnish, FashionandYou, and Limeroad. The startup works with more than 100 suppliers from Bangladesh, Pakistan, Sri Lanka, India and has seen demand from the United States, the UK, Mexico, and India.
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