E-commerce solutions platform Graas has raised over $40 million in its Series A funding round. The round was led by venture capital (VC) firm Galaxy, Performa, Integra Partners, Yuj Ventures and AJ Capital, a specialized vehicle (SPV) led by Kejora. The round also had the participation of some angel investors from India and Southeast Asia (SEA).
Graas plans to deploy the capital to launch its ‘Growth-as-a-Service’ (GaaS) technology solution. The platform would equip brands with automated e-commerce recommendations to streamline their bottom line.
Founded in 2022 by Prem Bhatia and Ashwin Puri, Graas uses artificial intelligence (AI) and machine learning (ML) to accelerate the growth of e-commerce businesses. Essentially, the startup integrates traditional data warehouses into its AI and ML tools for trend prediction and insights.
Prem Bhatia, Co-founder and CEO of Graas, said, “Grace’s 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. 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 – GaaS.”
Jinesh Patel, Managing Director at Integra Partners, said, “The intersection of AI, eCommerce, adtech, and fintech presents a multi-billion dollar opportunity in Southeast Asia and India. Partnering with Graas is exciting for us because they have not only seen this gap in the market but have created a solution that defines an entirely new category.”
A portion of the funds raised will be used to fully acquire SELLinALL, a direct-to-customer (D2C) platform based on Pune.
As part of the agreement, the founders of Shoptimize and SELLinALL will join Graas’s board of directors and work within the consolidated organization. The startup will also use the investment to expand operations in Southeast Asia and accelerate hiring across multiple verticals.
The startup’s product proposes proposals and executes them on multiple fronts, including brand communication, inventory management, warehousing, and last-mile logistics. Graas serves more than 250 customers and claims to process more than 45 million data points per month across more than 4 million Storage Units (SKUs). It currently has more than 350 employees in 11 offices in seven countries.