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Ace Turtle, a Bengaluru headquartered technology driven retail company, has announced the successful closure of a $5 million bridge financing round. The investment was spearheaded by Vertex Holdings, an existing stakeholder in the company, with additional participation from the company’s co-founders Berry Singh and Nitin Chhabra.
Strategic Capital Injection
This fundraising initiative represents a significant milestone for Ace Turtle as it navigates the evolving landscape of India’s retail sector. The newly acquired capital will serve multiple strategic purposes, primarily supporting the company’s ambitious expansion roadmap. A key component of this growth strategy involves the recently obtained G-Star Raw license, a prominent international apparel brand that will complement the company’s existing portfolio.
Furthermore, the bridge round is strategically designed to extend Ace Turtle’s operational runway, providing the financial flexibility needed as the company prepares for a more substantial fundraising exercise scheduled for next year. This phased approach to capital raising demonstrates a measured and strategic financial planning methodology.
Funding Trajectory and Business Model
The current investment arrives two years after Ace Turtle’s previous funding activity, bringing the company’s cumulative capital raised to $48 million. Notable previous rounds include a substantial $34 million Series B round led by Vertex Ventures in May 2023, and a $4 million pre-Series B investment secured in July 2019. This consistent investor support, particularly the continued backing from Vertex Holdings, signals strong confidence in the company’s business fundamentals and growth potential.
Ace Turtle operates as a technology enabled retail platform specializing in the operation and distribution of internationally recognized apparel brands within the Indian market. The company’s current brand portfolio encompasses Lee, Wrangler, and the newly added G-Star Raw. Its business model leverages an omnichannel approach, maintaining both digital commerce platforms and physical retail locations to maximize market reach and customer accessibility.
Path to Profitability
Despite operating in a challenging environment characterized by subdued consumer demand in the discretionary retail segment, Ace Turtle maintains an optimistic outlook regarding its financial trajectory. The company has set an ambitious target of achieving EBITDA breakeven by December 2025, with expectations of transitioning to EBITDA positive status in subsequent years as its omnichannel retail operations mature and scale.
The management team has emphasized its commitment to disciplined cost management while simultaneously pursuing growth opportunities, a balancing act that will be critical for achieving sustainable profitability in India’s competitive retail landscape.
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