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Logistics’ minicorn Geniemode managed to curb its net loss for FY25 by 35% to INR 50.7 Cr from INR 77.6 Cr reported in the previous fiscal year.
The net loss has declined on the back of the growing top line of the Tiger Global-backed startup. Operating revenue rose 21% to INR 672.6 Cr for the period under review from INR 556.2 Cr in FY24.
In this, revenue from the sale of products grew 20% YoY to INR 657.4 in FY25. Meanwhile Geniemode’s revenue from the sale of its services grew 127% YoY to INR 15.2 Cr in the period under review.
Including an other income of INR 5.7 Cr, the startup’s total revenue grew 20% YoY to INR 678.4 Cr.
Founded in 2021 by Amit Sharma and Tanuj Gangwani, Geniemode operates a B2B cross-border logistics platform that connects SME manufacturers and suppliers across India with global buyers mainly in North America and Europe.
It facilitates product discovery, customisation, quality control, logistics, and supply chain transparency, helping retailers, brands, and wholesalers source home décor, fashion, and lifestyle products efficiently and cost-effectively.
In February, the startup raised $50 Mn in its Series C round to boost its supply chain solutions and expand globally.
The startup has raised about $87 Mn in total from investors like Info Edge Ventures, Multiples and Tiger Global Management as its investors. Angel investors such as Eternal’s CEO Deepinder Goyal and CRED founder Kunal Shah also sit on the startup’s cap table.
Zooming Into Geniemode’s Expenses
The total expenses of the startup rose 14% to INR 730.9 Cr in FY25 from INR 641.2 Cr in the previous year. Here’s a look at the startup’s major expenses:
Purchase of Stock In-Trade: The cost under this head increased 17% to INR 520.4 Cr in the year under review from INR 446.4 Cr in FY24.
Employee Benefit Expenses: Employee cost declined 13% to INR 69.3 Cr in FY25 from INR 79.4 Cr in the previous fiscal year.
Legal Expense: The cost under this head surged the highest 41% to INR 38.1 Cr in FY25 from INR 27 Cr reported in the previous year.
The post Tiger Global-Backed Geniemode Trims FY25 Loss By 35% To INR 51 Cr appeared first on Inc42 Media.
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