Singapore’s Graas Raises US$17 Million Series B and Acquires Product-Data Startup Trustana
Singapore-based retail commerce AI company Graas has raised US$17 million in a Series B round and acquired Trustana, a Singapore product-data platform. The round was led by LemmaTree, an investment firm founded by Singapore state investor Temasek, with participation from Integra Partners, Tin Men Capital, The Xander Group, IncredWealth, and Orzon.
- Graas raised US$17 million in a Series B led by LemmaTree, founded by Temasek, with five other investors participating.
- Graas acquired Trustana, a Singapore product-data platform founded in 2020.
- The deal adds Trustana’s product-data enrichment to Graas’ Commerce Knowledge Graph, which powers AI agents for retail clients.
- New clients include David Jones, Chemist Warehouse, and Toys”R”Us; existing customers include Unilever, Puma, and Schneider Electric.
The deal at a glance
In a statement, Trustana said the Series B round was led by LemmaTree, the investment firm founded by Singapore state investor Temasek. Financial details of the acquisition were not disclosed.
Graas said the acquisition brings Trustana’s product-data enrichment into its Commerce Knowledge Graph, the database underpinning the AI agents Graas deploys for retail clients. By combining product and customer data, enterprise customers can run AI agents that recommend and sell across text, voice, and vision.
Expanding customers and reach
The deal also expands Graas’ customer base and geographic reach. It adds Trustana clients such as David Jones, Chemist Warehouse, and Toys”R”Us to Graas’ existing portfolio, which includes Unilever, Puma, and Schneider Electric across markets in Australia, Southeast Asia, and the Gulf.
Prem Bhatia, co-founder and chief executive of Graas, said bringing product, customer, and inventory data into a single system would allow AI agents to drive sales in both e-commerce and general trade. Rebecca Xing, chief executive of Trustana, said the combination offered a way to accelerate growth and deliver more to the company’s global customers. Glenn Gore, chief executive of LemmaTree, said the combined platform was positioned to help retailers make use of agentic AI.
Background on the two companies
Graas was founded in 2022 and builds AI tools for retail commerce. Its platform draws on more than US$1 billion in live commerce transactions. Trustana, founded in 2020 and also based in Singapore, automates the enrichment and structuring of product information for retailers and distributors.
The transaction is the latest sign of consolidation in the retail AI space in Southeast Asia, as commerce data platforms combine to offer retailers a fuller view of products, customers, and inventory for AI-driven selling.
FAQ
Who led Graas’ Series B round?
LemmaTree, an investment firm founded by Singapore state investor Temasek, led the US$17 million round.
What does Trustana do?
Trustana, founded in 2020 in Singapore, automates the enrichment and structuring of product information for retailers and distributors.
How will the acquisition help Graas clients?
Combining product and customer data lets retail clients run AI agents that recommend and sell across text, voice, and vision.
Source: TNGlobal
Cover image generated by AI for illustrative purposes only.
