PE Fund Investments
E-commerce enabler Ace Turtle raises $34-M from Vertex Growth, SBI Investment Co, others
Bengaluru-headquartered Ace Turtle has raised USD 34 million (INR 293 crore) as part of its Series B funding. The round was led by new investors Vertex Growth, SBI Investment Co Ltd, Farglory, Lesing Nine, Stride Ventures, Tuscan Ventures, and Trifecta Capital. Existing investors Vertex Southeast Asia and India and InnoVen Capital also participated in this round. The funds will be used to develop technological tools that ensure smooth omnichannel operations, acquire licenses for new fashion and lifestyle brands, and recruit talent across all levels. Ace Turtle has two business verticals – SaaS and Licensed Brands. With its proprietary platform – Rubicon - the company integrates online and offline retail channels by intelligent use of data. Rubicon is used by large Global Brands as a SaaS Platform. Its Licensed Brands portfolio includes long-term licenses of marquee brands Lee, Wrangler, Toysâ€R†Us, and Babiesâ€R†Us. Under this, it provides a vertical offering from design, local sourcing to D2C for western brands for the Indian Market.
From the Venture Intelligence PE-VC Deal Database: Between May-2017 and Jul-2019, Ace Turtle had raised over USD 9 M from CapitaLand, Vertex and InnoVen Capital.
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