Keychain, an AI-powered platform connecting consumer packaged goods (CPG) companies with manufacturers, has recently secured a $5 million investment led by Continente, a leading European retailer. This investment will fuel Keychain’s expansion into Europe, where the company aims to streamline the sourcing process for businesses.
Founders Oisin Hanrahan and Umang Dua, who previously founded Handy, a home services marketplace, recognized the need for a digital solution to connect CPG brands and manufacturers. With its database of over 30,000 manufacturers and 20,000+ brands and retailers, Keychain eliminates the need for laborious trade shows and provides real-time data insights.
“Traditional brokers have profited by creating information asymmetry, driving up costs,” said Hanrahan. “Keychain uses AI to eliminate these fees and provide greater transparency.”
Since its launch a year ago, Keychain has witnessed exponential growth. Brands and retailers are actively submitting projects worth over a billion dollars through the platform. The company is also expanding its services, launching new platforms focused on packaging and ingredients.
Keychain’s strategic investment from Continente will accelerate its European expansion, providing opportunities for businesses to connect with new partners and optimize their sourcing processes. The company has raised a total of $38 million to date, with backing from leading venture firms and CPG industry giants.
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