About Tortoise
Tortoise is a Technology company based in Bengaluru (India) founded in 2020 by Surya Harsha Nunnaguppala. Employee device leasing and benefit management solutions are provided. It operates on a Product-as-a-Service model in Technology and Healthcare sectors. Tortoise has raised $2.7 million across 3 funding rounds from investors including Quona, Vertex Ventures SG and Ganesh Rengaswamy. The company has 1 employees. Tortoise was last valued at $2.54 million in September 2022. Its Indian entity Tortoise Systems Private Limited reported revenue of ₹89.7 Lakh. Tortoise offers products and services including Device Benefit Program. Its focus areas include Employee Benefits and Device Leasing. Its competitors include Multipl and investu; 1 of its 2 listed competitors has raised funding.
Company details
A comprehensive device benefit program is provided by Tortoise, targeting employers to enhance employee well-being. Savings on smart devices are facilitated for workforces with zero cost to companies. Seamless integration with payroll and HRMS systems is managed, requiring minimal effort from HR teams. Consumer-grade experiences are ensured for employees, alongside custom implementation tailored to organizational compliance standards. Device protection, including insurance for accidental damage and theft, is included in the service.
- Headquarters Bengaluru, India
- Employees 1
- Founders Surya Harsha Nunnaguppala
- Stage Minicorn
- SectorsTechnologyHealthcare
- Email••••••••
- Phone•••• ••••
- Website tortoise.pro
- Social LinkedIn X
- Legal Name Tortoise Systems Private Limited
- Date of Incorporation 01 Dec, 2020
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹89.7 Lakh
FY 2024 · -78% YoY
- Net Loss-₹2.76 Cr
FY 2024 · -307% margin
- EBITDA-₹2.71 Cr
FY 2024 · -302% margin
- Total Equity Funding$2.7M (USD)
in 3 rounds
- Latest Funding Round$404.87K (USD), Seed
Oct 2022
- InvestorsQuona
& 27 more
- Employee Count1
Associated legal entities of Tortoise
Tortoise operates through Tortoise Systems Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Tortoise Systems Private Limited CIN U72900KA2020PTC141674 | Active | 01 Dec 2020 | Bangalore, Karnataka | ₹0.9 Cr | 3 | View details |
Products & Services of Tortoise
Tortoise offers a comprehensive portfolio of products and services, including Device Benefit Program.
Employee device savings program with minimal administrative effort.
Apps and channels of Tortoise
Tortoise publishes 1 mobile app with over 50K+ downloads.
Funding Insights of Tortoise
Tortoise has successfully raised a total of $2.7M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $404.87 thousand completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.7M
- Total Rounds 3
- Last Round Seed — $404,873
- First Round $2.3M
(Mar 2022)
- Investors Count 28
All 3 funding rounds of Tortoise with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2022 | $404,873 | Seed | – | – | |
| Sep 2022 | Seed | $2.54M | Sriharsha Majety, Elizabeth Chapman | – | |
| Mar 2022 | $2.3M | Seed | – | Vertex Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2022 | $2.54M | •••••••• |
Last known valuation $2.54M (Sep 2022). 28 investors in total: 7 institutional and 21 angel.
Investors in Tortoise
Tortoise has secured backing from 28 investors, including angel, venture fund, and institutional investors. Prominent investors backing the company include Quona, Vertex Ventures SG and Ganesh Rengaswamy.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on multiple sectors | 1997 | vertexventures.sg | Singapore, Singapore | |
Early-stage companies are invested in by Better Capital. | bettercapital.vc | Santa Clara, United States | ||
Micro venture capital firm investing in cloud startups | cloudcap.in | Delhi, India | ||
Fintech investments focused on financial inclusion and global economic growth. | 2015 | quona.com | ||
Venture capital funding is provided to innovative startups in India. | qedinnovationlabs.tcc.mode | Mumbai, India | ||
Value-added strategies are applied to real estate funds and developments. | crimsonholdings.com | Los Angeles, United States | ||
Delivers comprehensive financial services solutions. | 2014 | aladvisors.co | Colombia | |
GR Ganesh Rengaswamy | unknown_78fa42dfa75649cd8 | |||
VR Vignesh Ramanujam | unknown_d0c5a876cef045db8 | |||
SM Sriharsha Majety | Co-founder & CEO of Swiggy, prominent angel investor in Indian startups | unknown_76fa9c41374043d1b |
Investor details for Tortoise
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Tortoise Systems Private Limited (Tortoise)
Tortoise Systems Private Limited is the primary company behind Tortoise. The board of Tortoise Systems Private Limited currently have 3 directors; the longest-serving is Vardhan Koshal, appointed in 2020. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Vardhan Koshal DIN 06454112 | Director | 01 Dec 2020 | 5 yrs 10 mo | Tortoise Systems Private Limited |
| Surya Harsha Nunnaguppala DIN 08978940 | Director | 01 Dec 2020 | 5 yrs 10 mo | Tortoise Systems Private Limited |
| Piyush Kharbanda DIN 08126225 | Nominee Director | 04 Nov 2022 | 3 yrs 11 mo | Tortoise Systems Private Limited |
People of Tortoise
3 people are tracked at Tortoise (2 in leadership, 1 in team); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CTO | Leadership | |
Matthew Sallee | Chief Executive Officer | Leadership |
Ipshita Munshi | HR | Team |
Complete people profiles for Tortoise
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Tortoise
Figures of Tortoise Systems Private Limited, the primary company behind Tortoise, for FY 2024. Revenue was ₹89.7 Lakh (-78% year on year). Net loss was -₹2.76 Cr (-307% margin). EBITDA was -₹2.71 Cr (-302% margin). Revenue has grown at a compounded annual rate of +1415% over three years.
- ₹89.7 LakhRevenue · FY 2024 · -78% YoY
- -₹2.76 CrNet loss · -307% margin
- -₹2.71 CrEBITDA · -302% margin
- ₹2.2 LakhPaid-up capital
- +1415%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Tortoise Systems Private Limited are on its company page.
Detailed financial statements for Tortoise
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
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- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Tortoise
4 dated milestones of Tortoise across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Tortoise is founded.
- Funding First funding round of $2.3M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $405K.
Competitors of Tortoise
Tortoise has 2 listed competitors in our database, 1 of them funded. They include Multipl and investu.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| multipl.in | 2020 | Bengaluru, India | $5.66M | 34 | Goal-based savings are enabled for individuals via auto-investments. | |
| investu.in | 2015 | Delhi, India | An online platform for goal-based investment services for individuals. |
Detailed competitors of Tortoise
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Tortoise
The website of Tortoise (tortoise.pro) receives about 2.7K visits a month.
- Monthly visits2.7K
▲ 3.7% vs previous month
Websites whose visitors overlap most with Tortoise. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
financialtortoise.com | financialtortoise.com | 100% | #2,710,786 | – | |
| vertexventures.sg | 95% | 21.6K | #1,160,810 | View details |
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Related news about Tortoise
Complete news archive for Tortoise
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Frequently Asked Questions about Tortoise
Tortoise was founded in 2020 and raised its 1st funding round 2 years after it was founded.
Tortoise is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Tortoise is a funded company, having raised a total of $2.7M across 3 funding rounds to date. The company's 1st funding round was a Seed of $2.3M, raised on Mar 2022.
Tortoise has 1 employees.
The primary company behind Tortoise, Tortoise Systems Private Limited, reported revenue of ₹89.7 Lakh for FY 2024, down 78% year on year.
A comprehensive device benefit program is provided by Tortoise, targeting employers to enhance employee well-being. Savings on smart devices are facilitated for workforces with zero cost to companies. Seamless integration with payroll and HRMS systems is managed, requiring minimal effort from HR teams. Consumer-grade experiences are ensured for employees, alongside custom implementation tailored to organizational compliance standards. Device protection, including insurance for accidental damage and theft, is included in the service.
Tortoise offers Device Benefit Program.
Tortoise has 28 investors. Key investors include Quona, Vertex Ventures SG, Ganesh Rengaswamy, Vignesh Ramanujam, and Sriharsha Majety.
The valuation of Tortoise is $2.54M as of Sep 2022.
Tortoise operates through Tortoise Systems Private Limited.
The legal entities of Tortoise currently have 3 directors, including Vardhan Koshal, Piyush Kharbanda, Surya Harsha Nunnaguppala.