Ace Turtle, Bangalore based company which provides eCommerce solutions and consultancy, has raised ₹32 crores ($5 million) in series A funding. The funding round was led by Singapore based fund, Temasek with participation of Southeast Asia’s biggest real estate developer, CapitaLand. Both the companies are not the direct investors though, they have invested through their arms Vertex Venture and C31 Venture respectively.
Ace turtle claims itself to be an omni-channel specialist in the eCommerce space and according to Ben Mathias, India head of Vertex Venture, the asian market is moving towards omni-channel and in such a scenario, someone like Ace Turtle has a great potential forward. For some reasons, Asian offline retailers have not been very successful in going online and Ace Turtle aims to solve exactly the same.
The list of customers currently include popular brands like Puma, Ray-Ban, Fossil, Max, Arrow, Flying Machine, Ed Hardy and US Polo. Speaking on the development, Nitin Chhabra, CoFounder Ace Turtle said that the raised money will be spent in technology enhancement, strengthening of leadership team and exploring options of international expansion.
Ace Turtle uses a technology model to integrate the online and offline inventory of the store and helps them go online. The eCommerce store can directly be managed by the receptionist at the store and any order is immediately dispatched as the information is shared realtime with the store staff.