Ace Turtle, an e-commerce solutions provider, has announced that it has raised $34 million in a recent funding round. The investment was led by new investors Vertex Growth, SBI Investment, Farglory, Lesing Nine, Stride Ventures, Tuscan Ventures and Trifecta Capital. Existing investors Vertex Southeast Asia & India and InnoVen Capital also participated in the round. The funding will be used to develop advanced technological tools to enable seamless omnichannel operations, acquire licenses for new fashion and lifestyle brands, and recruit skilled talent to support aggressive growth plans. Ace Turtle is vertically-integrated from design, local manufacturing and marketing to reach consumers directly.
Ace Turtle, based in Bengaluru and Singapore, is the exclusive licensee of global brands such as Lee, Wrangler, Toys“R”Us and Babies“R”Us for India and other South Asian markets. The company’s revenue doubled in the 2022-23 financial year. Nitin Chhabra, CEO of Ace Turtle, expressed his vision to lead the next phase of retail in India and scale it to new heights through vertical commerce. Chhabra added that the funding will help the company expand its brand portfolio and solidify its competitive edge in the market.
James Lee, general partner of Vertex Growth, praised Ace Turtle’s deep domain expertise in product supply chain and utilization of data-driven insights in understanding consumer behavior and demand. Lee said the asset-light approach of Ace Turtle presents significant opportunities for integrating cutting-edge omnichannel tech solutions into brand operations, thereby facilitating substantial growth in the foreseeable future.
Ace Turtle has been revolutionizing retail in India by providing a comprehensive e-commerce platform for brands, retailers, and marketplaces. The company has been instrumental in driving growth for its clients through technology, data analytics, and customer engagement strategies. Ace Turtle’s innovative approach to e-commerce has enabled it to develop a strong presence in India and South Asia. The company’s vertically integrated model has allowed it to control the supply chain, from design to local manufacturing and marketing, and reach consumers directly, providing a seamless shopping experience.
Ace Turtle’s recent funding round will enable the company to further expand its operations and continue its mission to lead the next phase of retail in India. With the backing of new investors and the continued support of existing investors, Ace Turtle is well-positioned to capitalize on the growing e-commerce market in India and beyond. The company’s innovative approach to e-commerce, coupled with its deep domain expertise, will likely enable it to maintain a competitive edge in the market and fuel continued growth in the years to come.
Ace Turtle is vertically integrated, handling everything from design and local manufacturing to marketing and reaching consumers directly. The company is the exclusive licensee of global brands such as Lee, Wrangler, Toys“R”Us, and Babies“R”Us for India and other South Asian markets.
According to Nitin Chhabra, CEO of Ace Turtle, the funds raised will be used to develop cutting-edge technological tools that ensure seamless omnichannel operations, acquire licenses for new fashion and lifestyle brands, and recruit skilled talent across all levels to support the company’s aggressive growth plans. “Our aim is to lead the next phase of retail in India and scale it to new heights through vertical commerce,” he said.
Ace Turtle’s revenue doubled in the 2022-23 financial year, which indicates that the company is on track to achieve its ambitious goals. James Lee, general partner of Vertex Growth, praised Ace Turtle’s deep domain expertise in product supply chain and data-driven insights into consumer behavior and demand, calling the company’s asset-light approach a significant opportunity for the integration of cutting-edge omnichannel tech solutions into brand operations, thereby facilitating substantial growth in the foreseeable future.
Ace Turtle is vertically integrated, handling everything from design and local manufacturing to marketing and reaching consumers directly. The company is the exclusive licensee of global brands such as Lee, Wrangler, Toys“R”Us, and Babies“R”Us for India and other South Asian markets.
