New York, NY - Aug 19, 2025 - Keychain, a leading consumer packaged goods (CPG) startup, today announced it has raised $30 million in Series B funding to scale its AI-powered platform connecting brands, retailers, and manufacturers. Led by Wellington Management with participation from existing investor BoxGroup, the round brings Keychain’s total funding to $68 million. With its engineering hub in Gurugram, India, and a focus on North American markets, Keychain is poised to streamline CPG supply chains and drive innovation in product development. The announcement coincides with the expansion of KeychainOS, an AI-powered software suite designed to enhance manufacturing efficiency.
Funding Details
Keychain secured $30 million in its Series B funding round, led by Wellington Management, with contributions from existing investors including BoxGroup and other undisclosed backers. The company has raised a total of $68 million to date, with over $50 million still in reserve. The previous round in November 2024, valued at $260 million post-money, was a $15 million extension, and the current valuation is described as a “good step up” by CEO Oisin Hanrahan, though exact figures were not disclosed.
Strategic Goals and Use of Funds
The new funding will drive Keychain’s growth and innovation in the CPG sector. Below is an organized breakdown of its strategic priorities:
- Platform Enhancement: Further develop KeychainOS, an AI-powered software suite with modules for food safety compliance, purchasing, procurement, inventory, and production planning, to optimize manufacturing processes.
- Global Team Expansion: Scale the Gurugram-based engineering and product teams to enhance platform capabilities, leveraging India’s tech talent hub for rapid development.
- Market Expansion: Strengthen presence in North America, serving top retailers like 7-Eleven and Whole Foods, and explore strategic partnerships in Europe following recent investments from European retailers.
- AI and Data Innovation: Utilize AI to streamline data integration and provide qualitative insights from quantitative data, enhancing manufacturer-auditor interactions and supply chain efficiency.
These initiatives aim to solidify Keychain’s role as a transformative force in CPG manufacturing, reducing inefficiencies and fostering innovation.
Historical Funding and Growth
Keychain has shown significant growth since its founding in 2023, raising funds to build a robust platform that serves eight of the top 10 U.S. retailers and seven leading CPG brands, including General Mills. Its revenue model includes platform fees and subscriptions, with over $1 billion in projects submitted by brands and retailers. Below is a table summarizing its funding history:
| Round | Date | Amount Raised | Lead Investors | Valuation (Post-Money) |
|---|---|---|---|---|
| Seed | November 2023 | $18M | Lightspeed Venture Partners | N/A |
| Series A | November 2024 | $15M | BoxGroup, others | $260M |
| Series B | August 2025 | $30M | Wellington Management | N/A (Notable Step Up) |
Note: Total funding to date is $68M. Valuation for the Series B round was not disclosed but described as significantly higher than the $260M from November 2024.
Keychain’s Technology
Keychain’s platform is an AI-powered marketplace that connects CPG brands and retailers with over 30,000 manufacturers, streamlining the process of finding suitable manufacturing partners. Launched in February 2024, it enables brands to identify manufacturers for private-label or innovative products, reducing sourcing time from months to days. KeychainOS, the company’s new software suite, includes four modules, with the first focusing on food safety compliance by converting quantitative data into qualitative reports for auditors using AI and natural language processing. Additional modules cover purchasing, inventory, and production planning, enhancing supply chain transparency and efficiency.
Industry Impact and Challenges
Keychain is disrupting the CPG industry by digitizing a traditionally offline process dominated by trade shows and brokers, impacting players like traditional intermediaries and legacy software providers. Its platform reduces information asymmetry, lowering costs and enabling faster innovation for healthier, affordable products. Challenges include scaling operations to meet growing demand, ensuring data accuracy across diverse manufacturers, and navigating complex regulatory environments, particularly in food safety compliance. The company also faces competition from other SaaS platforms targeting CPG supply chains.
Market Context and Industry Trends
The CPG industry is undergoing a digital transformation, with trends favoring AI-driven supply chain solutions, private-label growth, and consumer demand for tailored products addressing nutritional and sustainability needs. The global CPG market is projected to grow steadily, with SaaS platforms like Keychain capitalizing on the need for efficiency and transparency. India’s rise as a tech hub, particularly in Gurugram, supports cost-effective scaling for U.S.-focused startups, aligning with Keychain’s strategy of leveraging offshore talent without targeting Indian consumers.
Stakeholder Perspectives
Investors view Keychain as a game-changer in CPG manufacturing. Wellington Management and BoxGroup emphasize its potential to revolutionize supply chain connectivity, while strategic investments from CPG giants like General Mills and European retailers signal industry confidence. Customers like Rich Products and Aura Bora praise the platform for streamlining supply chains and fostering innovation.
Stakeholder Insights
CEO Oisin Hanrahan stated, “It’s the talent, depth, availability, and the speed with which you can access talent [in India] that makes it a compelling destination for product development.” He added, “If we can take [the manufacturing partner search] from months down to days, we think we can unlock innovation in product development for this whole industry.” Kevin Spratt, Regional President at Rich Products, noted, “This partnership is a strategic move that will empower us to drive greater growth, foster enhanced innovation, and deliver even more unique value for our customers.”
About Keychain
Founded in 2023 by Oisin Hanrahan, Umang Dua, and Jordan Weitz, Keychain is a New York-based startup focused on transforming the CPG supply chain through AI. With its engineering hub in Gurugram, India, the company serves major U.S. retailers and brands, including 7-Eleven, Whole Foods, and General Mills. Previously, Hanrahan and Dua co-founded Handy, a home services marketplace acquired by Angi, bringing deep expertise in platform-driven solutions. Keychain’s platform connects over 20,000 brands and retailers with manufacturers, driving efficiency and innovation.
Future Outlook
Keychain aims to expand its North American dominance and launch in Europe later in 2025, supported by strategic retail partnerships. The company plans to enhance KeychainOS with additional modules and further integrate AI to optimize supply chains. With a strong cash reserve and growing adoption, Keychain is well-positioned to lead the digital transformation of CPG manufacturing, potentially achieving a valuation exceeding $500 million in the near term.
Source : Keychain
