To become the largest brand directory in the world, the company will use the capital to improve its technology and broaden its customer base internationally.
Sharad Kabra, a graduate of IIM Calcutta, founded the international SaaS platform Shipturtle, which has raised Rs 3.5 crore in a venture fundraising round headed by Inflection Point Ventures. Previously, Sharad co-founded the websites myBageecha.com and gabbarfarms.com.
The money will enable the business to improve its technology and broaden its consumer base internationally. In order to facilitate brand discovery and cross-selling with other brands, the firm wants to establish itself as the largest brand directory in the world.
According to Shipturtle’s founder, Sharad Kabra, “Our vision is to enable companies to Sell More Together. We want to democratize e-commerce by opening up additional platforms for firms besides Amazon and Flipkart. With Shipturtle, any brand can easily introduce their customers to complementary brands, boosting AOV, conversions, and revenue while lowering CAC, all with no outlay of cash or risk.
The plugin from Shipturtle is simple to connect with well-known cart solutions like Shopify and WooCommerce. It facilitates the discovery of other businesses on ShipTurtle’s brand directory and their connection with them through a no-code onboarding process for brands and marketplace participants (including B2C, B2B, C2C, hyperlocal, and social platforms). Once linked, ShipTurtle takes care of all the processes relating to goods, inventory, orders, and payments, making it simple for marketplaces and brands to expand their operations.
“We are excited to work with Sharad as Shipturtle is built from the learnings of one of the largest gardening marketplaces in the country, myBageecha.com,” stated Ivy Chin, Partner at Inflection Point Ventures. A crucial enabler for e-commerce, including D2C companies, Shipturtle’s full-stack marketplace development solution enables the construction of a marketplace in minutes and expands operations: streamlining & automating inventory data, orders, payments, shipping operations, and dashboards.
The total addressable market (TAM) for Shipturtle’s platform is above $70 billion, the company claims. This includes $60 billion in direct-to-consumer (D2C) brand agreements and $5 billion for marketplaces. The serviceable market is thought to be worth $765 million.
Additionally, the government’s push through ONDC will completely transform the sector, and Shipturtle can be a key player in the seller-buyer process. According to Shipturtle, its mission is to use its patented technology to enable product cross-selling within the D2C ecosystem.
The business said it would lessen brands’ reliance on Amazon and Flipkart and aid in growing their audiences and sales. 750+ brands operating in 50+ nations currently use Shipturtle to manage their marketplaces.
