SaaS platform Shipturtle raises Rs 3.5Cr led by Inflection Point Ventures

Shipturtle, a global SaaS platform founded by IIM Calcutta alum Sharad Kabra, has raised Rs 3.5 crore in a seed funding round led by Inflection Point Ventures. Sharad has earlier co-founded myBageecha.com and gabbarfarms.com. 

The funds will help the company strengthen its technology and expand its customer reach globally. The startup aims to become the world’s largest brand directory, making it easy for brands to discover and cross-sell with other brands.

Sharad Kabra, Founder of Shipturtle, said, "Our vision is to enable brands to Sell More Together. We want to democratise e-commerce and give thousands of brands access to more selling channels beyond Amazon and Flipkart. With Shipturtle, any brand can seamlessly offer other complimentary brands to their customers - increasing AOV, conversions and revenue, while lowering CAC - all with zero investment or risk."

Shipturtle’s plugin easily integrates with established cart platforms like Shopify and WooCommerce. It helps brands and marketplace players (including B2C, B2B, C2C, hyperlocal and social platforms) discover other brands on ShipTurtle’s brand directory and connect with them with a no-code onboarding process. Once connected, ShipTurtle handles all the workflows related to Products, Inventory, Orders, and Payments making it easy for brands and marketplaces to grow their business.

Ivy Chin, Partner, Inflection Point Ventures, said, "We are excited to work with Sharad as Shipturtle is built from the learnings of one of the country’s largest gardening marketplaces, myBageecha.com. Shipturtle’s full stack marketplace creation solution enables launching of a marketplace in minutes and scaling operations: streamlining & automating of inventory data, orders, payments, shipping operations & dashboards making them a critical enabler for e-commerce including D2C brands.”

According to the company's statement, The total addressable market (TAM) for Shipturtle’s platform is over $70 billion. This includes $5 billion for marketplaces and more than $60 billion for direct-to-consumer (D2C) brand partnerships. The serviceable obtainable market (SOM) is estimated to be $765 million. 

Moreover, the government thrust via ONDC will be a game changer for the industry, and Shipturtle can play a crucial role in the seller-buyer journey. Shipturtle said its vision is to enable cross-selling of products within the D2C eco-system using its proprietary technology.

The startup said it will help brands gain larger audiences and increase their sales while reducing heavy dependency on Amazon and Flipkart. At present, 750+ brands across 50+ countries are using Shipturtle to run their marketplaces.

Also Read:

• Digital escrow platform Castler raises $5M from Capital 2B, IIFL Fintech Fund, others