Graas raises over US$40M, acquires Shoptimize and SELLinALL to launch category-defining “Growth-as-a-Service” solution, turbocharging eCommerce growth for brands
Graas’ first fundraise will be used to launch the “Growth-as-a-Service” solution, a new AI and predictive analytics engine, across Southeast Asia and India
Funding secured from high profile investors, including Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group), AJ Capital and angel investors from across SEA and India
Part of the fundraise has been used by Graas to outright acquire 100% of India’s leading D2C and data specialist, Shoptimize Inc and Southeast Asia’s marketplace specialist, SELLinALL
SINGAPORE, 17 AUGUST 2022 - New eCommerce solution provider, Graas, has today announced that it has raised over US$40M in the first close of its Series A funding round to launch a category-defining technology solution “Growth-as-a-Service”. Graas uses predictive AI to equip brands with automated eCommerce recommendations that impact their bottom line, driving profitable growth.
Graas’ (under holding company Solv Pte Ltd) first ever round of funding was led by Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group) and AJ Capital. Some of Southeast Asia and India’s best known angel investors and industry leaders, across deep tech, retail, ad tech and private equity have also participated in the round.
At the helm of Graas are serial entrepreneurs and martech veterans, Prem Bhatia and Ashwin Puri. Graas’ proprietary platform integrates previously siloed eCommerce data to vastly reduce operational complexity and enable real time decision making. The AI engine helps predict trends and deliver actionable recommendations that span marketplace storefronts, brand.coms, social and conversational commerce, performance marketing, inventory management, warehousing and last mile logistics. Graas already serves over 250 customers today and its AI predictive engine processes over 45 million data points every month across 4M+ stock keeping units (SKUs).
“While India and SEA are the fastest growing regions for eCommerce in the world with US$200B in GMV, they still account for less than 10% 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 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”,” added Bhatia.
As part of its fast go-to-market strategy in the region, part of the fundraise has been used by Graas to outright acquire 100% of India’s leading D2C and data specialist, Shoptimize Inc and Southeast Asia’s marketplace specialist, SELLinALL.The founders of both companies have joined the board of Graas and will continue to be a part of the combined entity. This first round of fundraising will be used to drive Graas’ growth within the SEA region, including expanding their team, which currently numbers over 350 employees across 11 offices in 7 countries.
Commenting on the raise and launch of Graas’ “Growth-as-a-Service” solution Jinesh Patel, Managing Partner of Integra Partners, added:
“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. With the eCommerce market across the region seeing significant growth, brands are waking up to the fact that they need a scalable solution that propels their eCommerce business to greater heights, ultimately growing their bottom line.”