Ecommerce consulting fund Ace Turtle receives $5 million Series A funding

Ace Turtle, the Bangalore based ecommerce consulting firm, has raised $5 million (INR32 crore) capital funding in a Series A round backed by Temasek, Singapore’s sovereign fund, and CapitaLand, Southeast Asia’s largest real estate developer. Ben Mathias, India head of Vertex Venture (Temasek’s sister arm), said that “We looked at the market opportunity and we realized that in India, Southeast Asia, and Middle East, all the ecommerce players are moving towards omni-channel. While ecommerce companies are going omni-channel, the offline companies have been struggling to go online. For some reason, the offline retailers in Asia have not been successful going online and this has been a big problem for them. Here we are looking for a solution”.

The startup uses a proprietary platform that integrates online and offline retail channels, and handles ecommerce operations of brands including Puma, Ray-Ban, Fossil, Max, Arrow, Flying Machine, Ed Hardy , and US Polo. Nitin Chhabra, co-founder of Ace Turtle, added that “We will use the money primarily to enhance our technology platform, build our leadership team and look at other markets in Southeast Asia”.