Ace Turtle Secures $5 Million Bridge Funding to Fuel Retail Expansion
- Ace Turtle raised fresh capital led by Vertex Holdings, with support from its co-founders.
- The company will deploy the money toward working capital and expanding its offline retail presence.
- Ace Turtle is targeting EBITDA breakeven by December 2025 as it focuses on efficiency and scale.
Tech-led retail company Ace Turtle has raised $5 million in a bridge funding round led by existing investor Vertex Holdings, strengthening its balance sheet as it prepares for a larger fundraising next year. The round also saw participation from the company’s Co-founders, Berry Singh and Nitin Chhabra.
The Bengaluru-based firm raised this round after a gap of nearly two years. With the latest infusion, Ace Turtle’s total funding now stands at around $48 million. Its previous fundraises include a $34 million round led by Vertex Ventures in May 2023 and a $4 million pre-Series B round in July 2019.
Ace Turtle plans to use the fresh capital to meet working capital requirements, expand its offline retail footprint, and extend its financial runway. The company has been steadily growing its physical store network while keeping a close watch on costs, especially as discretionary spending remains under pressure.
The company operates and distributes several global apparel brands in India, including Lee, Wrangler, and G-Star Raw. It follows an omnichannel strategy, selling products through both online platforms and a growing number of brick-and-mortar stores across key markets.
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Despite a challenging retail environment, Ace Turtle remains focused on improving operational efficiency. The company aims to achieve EBITDA breakeven by December 2025 and plans to turn EBITDA positive in the following financial years as scale and margins improve.
Industry watchers see the bridge round as a vote of confidence from existing investors, signaling support for the company’s long-term strategy. As Ace Turtle sharpens its focus on profitability and selective expansion, it is positioning itself for a stronger growth phase ahead of its next major funding round.
