Ecommerce solutions provider Graas has raised $40 million as part of its ongoing Series A funding round from Kejora Capital, European Asset Manager-led SPV Performa, Integra Partners, a Special Purpose Vehicle (SPV) called Galaxy, Xander Group-backed Yuj Ventures and AJ Capital.
Othes angel investors and industry leaders in Southeast Asia and India, also participated in this round.
The founders of both companies will join Graas’s board and continue to be part of the combined entity, the company said in a statement.
The company plans to use the funds to accelerate its growth and expand its team in the Southeast Asia region.
It will also use fresh capital toacquire direct-to-consumer (D2C) ecommerce enabler Shoptimize and multichannel ecommerce platform SELLinALL.
“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.
“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”, he added.
The company claims to work with around 250 customers and has processed over 45 million data points across over four million stock-keeping units (SKUs).
Jinesh Patel, Managing Partner of Integra Partners, said, “The intersection of AI, eCommerce, adtech and fintech presents a multi-billion dollar opportunity in Southeast Asia and India. 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.”
Graas uses predictive AI to turbo-charge growth for eCommerce businesses. They are “Growth-as-a-Service”. Graas is a technology solution provider using predictive AI to turbo-charge growth for eCommerce businesses. Graas integrates traditional data silos and applies a machine-learning AI engine, acting as an in-house data scientist to predict trends and give real-time insights and actionable recommendations for brands.
The platform can also turn insights into action by seamlessly executing these recommendations across marketplace store fronts, brand.coms, social and conversational commerce, performance marketing, inventory management, warehousing and last mile logistics – all of which impacts a brand’s bottom line, driving profitable growth.