Ecommerce enabler Graas raises $40M funding; acquires Shoptimize, SELLinALL
Graas said it will utilise part of the funding for acquisition and will increase its footprint across Southeast Asia.
Ecommerce solutions provider Graas has announced raising $40 million as part of its ongoing Series A round of funding. Part of the capital has been utilised by the company to acquire Pune-headquartered Direct-to-Consumer (D2C) ecommerce enabler and Singapore-registered multichannel ecommerce platform SELLinALL for cross-border selling.
Founders of both the companies will join the Board of Graas and will continue to be a part of the combined entity, it said in a statement.
The round was led by a Special Purpose Vehicle (SPV) called Galaxy, created by Jakarta-based Kejora Capital, European Asset Manager-led SPV Performa, Integra Partners, Xander Group-backed Yuj Ventures and AJ Capital. The round also saw participation from angel investors and industry leaders in Southeast Asia and India.
Managed by Singapore-registered holding company Solv.Asia, Graas will utilise the capital to drive its growth in the Southeast Asia region and to expand its team. The startup currently employs over 350 people across 11 offices and seven countries.
Founded in 2022 by seasoned investors Prem Bhatia and Ashwin Puri, Grass’s proprietary platform integrates ecommerce data to enable real-time decision making. Its AI-engine helps predict trends and deliver actionable recommendations for marketplace storefronts, brands, social and conversational commerce, performance marketing, inventory management, warehousing and last mile logistics.
“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,” said Prem Bhatia, Co-founder and CEO of Graas in the statement.
He added, “Our plug- and-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.”
The company currently claims to work with nearly 250 customers and claims to process over 45 million data points across over four million Stock-Keeping Units (SKUs).
(The copy was updated to correct a typo in the headline and the name of the holding company.)
Edited by Megha Reddy