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Manufacturing platformKeychainannounced an $ 18 million seeded player round led by Lightspeed Venture Partners this morning .
Keychain seeks to apply unreal intelligence agency to aid brands find manufacturing pardner . It was founded by Jordan Weitz , alongside Umang Dua and Oisin Hanrahan , who antecedently co - founded and lead the home package troupe Handy together , which was later told to Angi . The duo then work on their way up the career ladder at Angi , becoming the CRO and CEO , severally .
The group decided it was time for a raw challenge and prepare their eyes on starting a newfangled caller : Keychain . Hanrahan said that finding the proper manufacture partner is a big payoff for consumer packaged goods ( CPG ) companies . They desire to produce great products like healthy food and high-pitched - quality cosmetics , “ but the outgrowth of find the best manufacture cooperator often get in the way , ” he told TechCrunch .
“ If we can take that process from month down to days , we retrieve we can unlock institution in Cartesian product development for this whole industry . That , in turn , will result in intelligent , more affordable products on our store shelves . ” right on now , the CPG industry operates largely offline and is dominate by trade show and vetting via brokers . Keychain aim to have a marketplace at its core to match “ over 10,000 manufacturers on one side with brands and retailer on the other , ” Hanrahan articulate .
The product is invite - only but plans to open up to choose retailers and brands next year .
David Tisch , a partner at BoxGroup , was an early investor in Handy and also invested in Keychain . “ There are few entrepreneurs I ’ve get word who are as strategic and tenacious , ” he told TechCrunch . “ I ’m excited to work with them again . ” Afore Capital and SV Angel also participated in the beat .
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Next , the company wants to enlarge to aid business organization with the entire fabrication process , including sourcing , onboarding and compliance . But they ’ve stimulate to get through their Q1 2024 launch first . “ We ’re optical maser - sharpen on work with our first few partners and manufacturers to convey this production to lifespan . ”
This story was update to elucidate that Dua and Hanrahan founded Handy together .
