Ace Turtle, a Bengaluru-based, e-commerce solutions provider has reportedly bagged $4 million (approx ₹27 crore) in pre-Series B round of funding from Vertex Ventures and a new private equity investor.
While, according to the sources, the company is also in talks to raise additional equity financing from new investors in the ongoing Series B round.
Ace Turtle facilities brick-and-mortar brands by helping them manage and list their product inventory across e-commerce platforms and online websites.
It does this by managing and distributing the entire stock keeping unit of a brand while not owning any inventory.
Ace Turtle, founded in 2013 by Berry Singh and Nitin Chabra, offers a full-stack e-commerce software and operational resources which provides end-to-end solutions ranging from order processing, payments, customer relationship management (CRM), logistics to offline retail brands and last-mile delivery.
It has partnered with multiple logistics provider for the deliveries component.
Till date, Ace Turtle has raised around $5 million in financing across both equity and debt financing from investors such as InnoVen Capital and its other existing investors.
Riding on the growth thanks to increasing online transactons, cheaper internet and rising retail awareness in India, the logistics segment and SaaS products that support retail operations are seeing a flurry of investments in India.
Some of the significant players in the similar domain includes Oracle, IBM, Sap Hybris, HP, Microsoft, SaaS, Salesforce, and many more.