On Wednesday, Graas, a provider of solutions for the e-commerce sector, said that the first close of a financing round had brought in over $40 million.
Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Manager-led SPV), Integra Partners, Yuj Ventures (Xander Group), and AJ Capital took the lead in the Series A investment. The round also included angel investors from India and Southeast Asia.
Shoptimize Inc., a data specialist located in Pune, and SELLinALL, a Southeast Asian market authority, were two companies that Graas purchased with some of the money raised. The founders of the two businesses have joined the Graas board and will remain a member of the new organization. The funds from the initial round of funding will be used by Graas to strengthen its personnel and promote expansion throughout Southeast Asia.
Entrepreneurs Prem Bhatia and Ashwin Puri founded Graas, which employs a unique platform to combine historical e-commerce data to streamline operations and enable real-time decision-making. According to Graas, the company serves over 250 clients and processes over 45 million data points each month over 4 million or more stock-keeping devices (SKUs).
“Margins are in danger due to the rise in marketplaces, revenue splits with different platforms, advertising and customer acquisition costs (CAC), as well as changing warehousing and last mile expenses. Graas is here to provide the solution since conducting business has grown more difficult, according to Bhatia, co-founder, and CEO of Graas.
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