E-commerce solutions startup Graas raises US$40m, acquires 2 companies

GRAAS, a startup providing brands with automated e-commerce solutions, has raised US$40 million in Series A funding, part of which it has used to acquire 2 companies: Indian data specialist Shoptimize and South-east Asian e-commerce enabler SELLinALL.

The fundraise was led by Galaxy, a special purpose vehicle (SPV) helmed by Indonesian venture firm Kejora; Performa, an SPV helmed by a European asset manager; Integra Partners; Yuj Ventures and AJ Capital. Undisclosed angel investors also participated in the round.

Founded this year, Graas has an AI (artificial intelligence) engine that helps brands predict trends and deliver recommendations for performance marketing, inventory management, warehousing and last mile logistics, among other functions. The startup said that it serves over 250 customers. It has over 350 employees across 11 offices in 7 countries.

“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.

The founders of the 2 acquired companies, Shoptimize and SELLinALL, have joined the board of Graas and will continue to be a part of the combined entity.

“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,” said Jinesh Patel, managing partner of Integra Partners.