Ace Turtle, a tech-driven retail business, just got $5 million in bridge funding led by Vertex Holdings, an investor they already have. This cash will help Ace Turtle improve its India plans for both online and direct-to-consumer sales. Ace Turtle’s co-founders, Berry Singh and Nitin Chhabra, also put money into this round, showing they believe in the company as it grows.
This funding comes two years after the last one, bringing Ace Turtle’s total funding to about $48 million. Before this, they raised $34 million in May 2023, led by Vertex Ventures, and $4 million in July 2019. This makes them one of the more efficient companies in India’s growing direct-to-consumer market. The new funds will help with working capital, opening more stores, and preparing for a bigger funding round next year.
Ace Turtle works with direct-to-consumer sales in India, online and offline retail, and selling global brands. They handle well-known international clothing brands like Lee, Wrangler, and G-Star Raw in India. These brands sell on the internet, in exclusive stores, and in regular retail stores. This makes Ace Turtle a key business in India’s fashion and lifestyle market.
Ace Turtle has been adding more stores, even though clothing sales have been slow recently. This careful approach is common among direct-to-consumer brands in India, where physical stores are becoming important for growth along with online sales. For Ace Turtle, stores increase brand awareness and build customer trust, which leads to better sales over time.
At the same time, Ace Turtle is paying attention to how it runs its business. The company wants to reach EBITDA breakeven by December 2025 and then become EBITDA positive in the years after. This focus on making money and growing steadily matches what’s happening in the direct-to-consumer market right now, where investors want to see strong business practices, clear cash flow, and business models that can grow through both online and offline channels, rather than just increasing sales.
This bridge funding for Ace Turtle shows that investors still have faith in well-organized retail businesses, even though funding is tight right now. Vertex Holdings’ continued support shows they trust Ace Turtle’s leaders, brand selection, and long-term plan to create a strong direct-to-consumer market in India with global brands and local know-how.
Looking ahead, Ace Turtle will focus on growing its store network, improving its supply chains, and making the customer experience better across all sales channels. With plans for a larger funding round soon, Ace Turtle is positioning itself as a strong player in the direct-to-consumer market, combining well-known international brands with retail strategies that are tailored for India.
