Graas raises $17M, buys Trustana in AI commerce push
What's the deal? Singapore-based retail commerce AI company Graas has raised $17 million in a Series B round and fully acquired AI product data platform TrustanaDealroom has a profile for this one. Try Dealroom →. The round was led by LemmaTreeDealroom has a profile for this one. Try Dealroom →, an investment firm founded by Singapore state investor Temasek, with participation from Integra PartnersDealroom has a profile for this one. Try Dealroom → and Tin Men CapitalDealroom has a profile for this one. Try Dealroom →.
Who's who? Founded in 2022, Graas runs a platform where businesses build AI agents for tasks like finding products, placing orders, and handling customer queries. Trustana, also Temasek-backed, helps retailers, distributors, and marketplaces manage product data.
The rationale: The deal comes down to data. "Agents and AI are only as good as the context and data they draw from," Trustana chief executive officer Rebecca Xing says. Most of the funds will go into building a database combining product and customer information — the foundation of Graas' AI agent platform.
Why now? Graas is expanding its agentic commerce business, with revenue growing more than 50% year on year and its B2B agentic business growing over 100% each year. The acquisition gives it Trustana's product-data platform and access to new markets like Australia and the Middle East.
The other side: For Trustana, the sale follows consecutive years of net losses. Between 2023 and 2024, its revenue fell 75% after it shifted from an inventory-based trade services platform to an AI company. Building an end-to-end stack alone would have taken years, Xing says, citing the "opportunity to accelerate growth."
What's next? The integration is expected to be completed by end-December. LemmaTree, already a Trustana investor, becomes Graas' largest shareholder following the round, co-founder and chief executive officer Prem Bhatia says.
The signal: The deal reflects how AI commerce players are consolidating to control the full data stack — product, customer, and order — that autonomous agents need to work. As Xing puts it, both firms "could see we held different halves of it."
Read more: Tech in Asia
Image credit: Generated with Gemini
