Tech-led retailer Ace Turtle raises $5 million in round led by existing investor Vertex Holdings

Ace Turtle, which operates denim brands Lee, Wrangler, and G-Star Raw in India, has raised $5 million in fresh funding from existing investor Vertex Holdings, along with its co-founders Berry Singh and Nitin Chhabra.

While it did not disclose the valuation of the company, Chhabra said the fresh money will help fund expansion plans, including the recent addition of the G-Star Raw licence, and extend the company’s cash runway ahead of a larger fundraiser planned for next year.

“Raising debt was avoided, as it would have strained the balance sheet and…