Ace Turtle, a Bangalore-based retail tech startup, has raised $34 million in a funding round led by Vertex Growth, with participation from existing investors such as Edelweiss and the family office of S D Shibulal, the co-founder of Infosys. The funding will be used to expand Ace Turtle’s operations in India and Southeast Asia and to develop its AI-based retail technology platform.
Ace Turtle’s platform provides retailers with tools and analytics to help them optimize their online sales channels and improve the customer experience. The company also offers a suite of logistics and supply chain services, including warehousing, order fulfillment, and delivery. The company has partnerships with over 50 global brands, including Puma, Tommy Hilfiger, and Ray-Ban, and has a presence in over 10 countries. Ace Turtle’s platform is used by over 1500 retail stores, and the company claims to have processed over 50 million orders to date. The funding round comes at a time when online retail is seeing significant growth in India, driven by factors such as rising internet usage, increasing smartphone penetration, and a shift in consumer behavior towards online shopping. The COVID-19 pandemic has also accelerated the adoption of digital commerce in India, creating new opportunities for companies like Ace Turtle.
Ace Turtle is well-positioned to capitalize on these trends, with its innovative retail technology platform and strong partnerships with global brands. The company’s latest funding round will enable it to continue its rapid expansion and strengthen its position in the fast-growing Indian and Southeast Asian e-commerce markets.