Ecommerce solutions platform Graas raised more than $40 million in Series A funding, with participation from several angel investors from South-East Asia (SEA) and India, as well as venture capital (VC) firm Kejora-led special purpose vehicle (SPV) Galaxy, Performa, Integra Partners, and Yuj Ventures.
Artificial intelligence (AI) and machine learning (ML) are used by Graas to expand growth for e-commerce businesses. The startup essentially merges existing data silos with its AI and ML engine to forecast trends and insights. Shoptimize, a direct-to-customer (D2C) platform with headquarters in Pune, and SELLinALL, a marketplace expert with headquarters in Chennai, will both be entirely acquired with a portion of the cash.
The founders of Shoptimize and SELLinALL will serve as members of the consolidated company and the Graas board of directors as part of the deal. The startup will also employ more employees from various industries and increase its operations in Southeast Asia with the funds.