Keychain, a manufacturing supply chain startup for the packaged goods industry, has raised $18 million in a seed funding round led by Lightspeed Venture Partners. 

Over 20 consumer packaged goods industry professionals and several investors, including BoxGroup, Afore Capital, and SV Angel, also participated in the funding round.

Keychain | Manufacturing Supply Chain Startup

Founded by Umang Dua, Jordan Weitz, and Oisin Hanrahan in 2023, Keychain is a manufacturing supply chain startup for the packaged goods industry that offers services ranging from competitive intelligence, onboarding, manufacturer sourcing, terms negotiation, and compliance. 

Having started with a network of over 10,000 manufacturers, the manufacturing supply chain startup aims to connect brands with manufacturing partners through its AI platform, helping brands quickly find the right manufacturing partners.

As per Umang Dua, Co-founder and COO of Keychain, the startup is building its entire engineering team in Gurgaon while operating globally in the manufacturing space. The New York-based startup plans to open its platform to select retailers and brands in 2024, which is currently available only to invited partners.

Speaking about the development, Oisin Hanrahan, Co-founder and COO of Keychain, said,

“Brands and retailers want to create great products – healthy food, high-quality cosmetics, ethically sourced coffee – but finding the right local and international manufacturing partners within the chaos of the current system often gets in the way.”

Hanrahan highlighted that the founding team is excited about what we’re building, underscoring the belief that by creating a more transparent supply chain, shoppers around the world would find more outstanding products on store shelves.

Statement from the Investor

Commenting on the development, Raviraj Jain, partner at Lightspeed Venture Partners, expressed his appreciation for the team at Keychain, highlighting that the manufacturing supply chain startup is tackling a thorny, real-world problem by leveraging technology and a deep understanding of how to build a marketplace.

Jain added, 

“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.”

Over the years, there has been a rise in supply chain management platforms operating across industries. Last month, Blubirch, a Bengaluru-based reverse supply chain management platform, secured $6.37 million in a Series A round to expand its presence across various retailer marketplaces and original equipment manufacturers’ ecosystems.

In August, India Index (The India Index LLC), a B2B supply chain marketplace making sourcing from India easy, secured $500,000 in pre-seed funding. Earlier in March, Fashinza, a Gurugram-based fashion supply chain startup, secured $30 million in funding to support working capital requirements to expand into the US, Gulf, and Europe.

Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.