New e-commerce solution provider, Graas, has raised over $40 million in the first close of its Series A funding round, to launch a category-defining technology solution 'Growth-as-a-service'. The funding round was led by Galaxy (Kejora-led SPV), Performa, Integra Partners, Yuj Ventures and AJ Capital. The round also saw participation from angel investors and industry leaders across deep tech, retail, ad tech and private equity.
Company handout
"While India and SEA are the fastest growing regions for e-commerce in the world with $200 billion in GMV, they still account for less than 10 per cent of all retail in the region. 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 and CEO, Graas.
As part of its first go-to-market strategy in the region, a part of the fundraise will be used to outright acquire 100 per cent of India's leading D2C and data specialist, Shoptimize Inc and Southeast Asia's marketplace specialist, SELLinALL. It will also 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, as per company statement.
"The intersection of AI, e-commerce, adtech and fintech presents a multi-billion dollar opportunity in SEA 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 e-commerce market across the region seeing significant growth, brands are waking up to the fact that they need a scalable solution that propels their e-commerce business to greater heights, ultimately growing their bottom line," said Jinesh Patel, managing partner, Integra Partners.
Founded in 2022, Graas is a 'Growth-as-a-service' technology solution provider using predictive AI to turbo-charge growth for e-commerce business. 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.