Bengaluru-based omnichannel platform Ace Turtle has raised Series A funding from Singapore based Vertex Ventures and C31 Ventures, the corporate venture arm of CapitaLand. The amount of funding raised by the company was reported to be about $5 Mn, as per an ET report.
As per a company statement, Ace Turtle, with its proprietary platform, integrates online and offline retail channels automating and optimising omnichannel fulfilment. The platform provides brands with a single view of customers and a single view of inventory. It helps reduce the costs and complexity of omnichannel transformation for enterprise retail clients. The startup’s clientele includes the likes of Ed Hardy, Flying Machine, Fossil, Puma, MAX, Ray-Ban, US Polo, etc.
Ben Mathias, MD and India Head of Vertex Ventures said, “Today, omnichannel has become an absolute necessity for brands and they recognise the need for a technology solution that provides a unified customer experience across all channels. Ace Turtle has built an integrated solution that is being used by many brands across several geographies in Asia.”
The startup will use the newly raised funds to build its leadership team, augment the technology platform, and toward an aggressive expansion of its customer base in India and overseas.
In October 2016, Bengaluru-based omnichannel engagement and commerce platform Capillary Technologies acquired ecommerce platform SellerworX. Other players in this segment include Mobikon, FitForCommerce, NewMine, etc.
Lead investor Vertex Ventures Southeast Asia & India invests in high-growth startups seeking their first or second round of institutional venture capital funding across Asia, with a focus on Singapore, Indonesia, Taiwan and India. In February 2017, Bengaluru-based IoT startup Flutura Decision Sciences and Analytics raised $7.5 Mn Series A funding, led by Vertex Ventures and supported by Lumis Partners and existing investor, The Hive. Other investments include Grab, FirstCry, CloudCherry, Xpressbees.