Singapore’s Graas raises $17 M Series B funding, acquires product-data startup Trustana
After raising $17 million in a Series B financing, Singapore-based retail commerce AI startup Graas purchased Singapore-based product-data platform Trustana.
LemmaTree, an investment business formed by Singaporean state investor Temasek, led the transaction, according to a statement released by Trustana on Wednesday. Additionally, Integra Partners, Tin Men Capital, The Xander Group, IncredWealth, and Orzon participated. There was no financial information provided.
According to Graas, the acquisition enhances Trustana’s product-data enrichment in its Commerce Knowledge Graph, which serves as the foundation for the AI agents it uses for retail customers. Enterprise clients can operate AI agents that recommend and sell across text, voice, and vision by combining product and customer data.
By adding Trustana businesses including David Jones, Chemist Warehouse, and Toys “R” Us to Graas’ current clientele, the agreement further broadens Graas’ clientele and geographical reach. Unilever, Puma, and Schneider Electric are among the well-known brands in Graas’ portfolio, which spans markets in Australia, Southeast Asia, and the Gulf.
AI agents could boost sales in both general trade and e-commerce by integrating product, customer, and inventory data into a single system, according to Prem Bhatia, co-founder and CEO of Graas.
According to Rebecca Xing, CEO of Trustana, the merger provided a means to boost expansion and provide more to the company’s international clientele.
The integrated platform is positioned to assist merchants in utilizing agentic AI, according to LemmaTree CEO Glenn Gore.
Graas, which was established in 2022, develops artificial intelligence (AI) technologies for retail sales, and its platform leverages over $1 billion in real-time transactions. Founded in 2020 and headquartered in Singapore, Trustana automates the structure and enrichment of product data for distributors and retailers.
