ace turtle, a Bengaluru, India and Singapore-based technology-native retail company, raised USD 34M in Series B funding.
Backers included new investors Vertex Growth, SBI Investment Co. Ltd., Farglory, Lesing Nine, Stride Ventures, Tuscan Ventures and Trifecta Capital and existing investors Vertex Southeast Asia & India and InnoVen Capital.
The company intends to use the funds to develop technological tools that ensure omnichannel operations, acquire licenses for new fashion and lifestyle brands, and recruit talent to support growth plans.
Led by CEO Nitin Chhabra, ace turtle is vertically integrated from design, local manufacturing and marketing to reach consumers directly. It is powered by its proprietary technology which uses data science from design to fulfilment to meet consumer expectations.
The company grew in the financial year 2022-23 by doubling its revenue and becoming EBITDA-positive. Its portfolio of licensed brands currently comprises Lee®, Wrangler®, Toys”R”Us® and Babies”R”Us®.
FinSMEs
08/05/2023