Singapore-headquartered Graas today announced that it had raised US$40 million in a Series A funding round led by Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group) and AJ Capital.
According to a press statement, some Southeast Asia (SEA) and India’s “best-known angel investors and industry leaders” across deep tech, retail, adtech and private equity have also participated in the round.
In addition to the funding round, the company also announced that it had acquired Indian D2C and data specialist Shoptimize and SEA marketplace specialist SELLinALL. Following the acquisition, the founders of both companies have joined the board of Graas and will continue to be a part of the combined entity.
The funding will also support the expansion into SEA and India.
Graas was founded by serial entrepreneurs and martech veterans Prem Bhatia and Ashwin Puri.
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Its proprietary platform integrates previously siloed e-commerce data to reduce operational complexity and enable real-time decision-making. The AI engine helps predict trends and deliver actionable recommendations that span marketplace storefronts, social and conversational commerce, performance marketing, inventory management, warehousing and last mile logistics.
Graas said that it already serves over 250 customers today, and its AI predictive engine processes over 45 million data points every month across more than four million stock-keeping units (SKUs).
The company is run by over 350 employees across 11 offices in seven countries.
“While India and SEA are the fastest growing regions for e-commerce in the world with US$200 billion in GMV, they still account for less than 10 per cent of all retail in the region. There is significant headroom to grow, however, brands are finding it increasingly difficult to manage profitability. Given the increase in number of marketplaces, revenue shares with various platforms, advertising and customer acquisition costs (CAC) and fluctuating warehouse and last mile costs, margins are under threat. Doing business has become more complex and Graas is here to offer the solution,” said Prem Bhatia, Co-Founder & CEO of Graas.
“Graas’ vision is to demolish data silos, increase brands’ speed to market and create a streamlined, informed approach to marketing, inventory and content management – all in one dashboard. Our plugand-play algorithmic solution gives brands the equivalent of an in-house data scientist. As a result, we are already seeing exponential increases in our clients’ growth via our solution and that’s why we have defined a new category for Graas: ‘Growth-as-a-Service’,” added Bhatia.
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