eCommerce platform Graas acquires Shoptimize, SELLinALL Following $40 Million Series A Funding Round

Singapore-headquartered Graas announced that it had raised US$40 million in a Series A funding round led by Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group) and AJ Capital.

Graas, a Growth as a Service company, 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), Graas mentioned.

A part of the fundraise will be used to fully acquire Pune-based direct-to-customer (D2C) platform Shoptimize and marketplace specialist SELLinALL. As part of the deal, founders of both Shoptimize and SELLinALL will join the board of Graas and will work as part of the consolidated entity. 

The startup will also use the investment to scale up operations in the Southeast Asia region and ramp up hiring across multiple verticals. 

Graas, in a statement, said that it would also deploy the capital to launch its ‘Growth-as-a-Service’ (GaaS) technology solution. The platform would equip brands with automated ecommerce recommendations to streamline their bottomline.

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 per cent 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.

Prem Bhatia, co-founder & CEO of Graas