NEW YORK — Keychain, a manufacturing platform for the consumer packaged goods industry, has raised $18 million in Seed Funding. Lightspeed Venture Partners led the funding round. Companies like BoxGroup, Afore Capital, SV Angel and other CPG industry professionals backed the round.
The platform uses AI-powered technology to help CPG brands find a manufacturing partner to fit business’s needs. The platform also aims to help companies navigate the manufacturing process from competitive intelligence and manufacturer sourcing to terms negotiation, onboarding, and compliance, the company said.
Keychain was founded by Oisin Hanrahan, chief executive officer; Umang Dua, chief operating officer; and Jordan Weitz, co-founder. Mr. Hanrahan and Mr. Dua previously founded startup home service repair company Angi before finding Keychain. Mr. Weitz was in the private equity and venture capital sectors before joining Keychain.
“We love what Oisin, Umang, Jordan and the team at Keychain are building,” said Raviraj Jain, partner at Lightspeed Venture Partners. “They’re tackling a thorny, real-world problem with smart technology and a deep understanding of how to build a marketplace. Lightspeed is proud to lead Keychain’s seed financing and support them on their mission to create a more efficient, accessible supply chain for packaged goods.”
The platform will be open to select retailers and brands in 2024. It is currently available to only invited partners, the company said.Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
