Summary
Graas, a Singapore-based retail commerce AI company, raised $17 million in a Series B round and acquired Trustana, a Singapore-based 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. The acquisition adds Trustana's product-data enrichment to Graas' Commerce Knowledge Graph, the database underpinning the AI agents it deploys for retail clients.
Key Facts
- $17M Series B led by LemmaTree (founded by Temasek)
- Participation: Integra Partners, Tin Men Capital, The Xander Group, IncredWealth, Orzon
- Acquired Trustana (Singapore product-data platform; founded 2020)
- Adds product-data enrichment to Graas' Commerce Knowledge Graph
- Enables AI agents to recommend and sell across text, voice, and vision
- Adds clients: David Jones, Chemist Warehouse, Toys"R"Us (existing: Unilever, Puma, Schneider Electric)
- Markets: Australia, Southeast Asia, Gulf
- Graas (founded 2022) builds AI tools for retail commerce; platform draws on $1B+ in live commerce transactions
- CEO Prem Bhatia: single system of product/customer/inventory data lets AI agents drive sales in e-commerce and general trade
- LemmaTree CEO Glenn Gore: combined platform positioned to help retailers use agentic AI
Why It Matters
Graas' Series B and Trustana acquisition illustrate the convergence of AI agents and commerce data in retail fintech. By combining product and customer data in a single "Commerce Knowledge Graph," Graas aims to deploy AI agents that recommend and sell across text, voice, and vision — the agentic commerce trend. The Temasek-linked LemmaTree backing signals state-investor confidence in agentic AI for retail. It reflects the growing importance of structured product data as the foundation for AI-driven commerce and payments.