Mode, Inc. announced that it will receive $19,088,108.11 in a round of funding on December 14, 2023. The company will issue 13,986,013 series B-1 preferred shares at issue price of $1.0725 per share for the gross proceeds $14,999,998.9425; and 4,764,696 series B-2 preferred shares at issue price of $0.858 per share for the gross proceeds $4,088,109.168. The shares are convertible, and non-cumulative.

The shares carry non-cumulative dividend value of $0.0858; and $0.0686 per annum per share respectively. The shares will be convertible in common shares at a price of $1.0725; and $0.858 per share respectively. The round will be raised at post money valuation of $45,117,186.