AI-Funded ventures pump $30 million into Keychain's Series B, debuts AI-operated system for Consumer Packaged Goods.
Keychain, an AI-powered CPG manufacturing platform, has secured a $30 million Series B round, bringing its total funding to $68 million since its launch 18 months ago. The round was led by Wellington Management and BoxGroup, with other returning investors.
The platform, which works with leading US retailers such as 7-Eleven and Whole Foods, and top CPG brands including General Mills, aims to become the full operating system for manufacturers. It offers tools for procurement, productivity, production, purchasing, cost accounting, and food safety auditing.
Keychain collects data through online searches, manual research, and relationships with sellers of equipment and machinery. It uses AI to analyze packaging and ingredients to determine manufacturing requirements. One of its key features is the ability for manufacturers to share their data with brands and retailers, which has attracted more manufacturers to the platform due to the presence of numerous brands and retailers.
The platform's growth creates a "virtuous cycle" as manufacturers help populate it. Keychain has identified manufacturers by analyzing data from private enterprises in the United States and has built a network of 30,000+ manufacturers and 20,000+ brands and retailers.
In addition to its core manufacturing platform, Keychain has expanded beyond food into beauty and personal care. It has developed a set of AI-powered workflow tools to help users bring products to market more rapidly. These tools include capabilities for ingredients and packaging sourcing, and tools replacing food safety auditing software.
Keychain's ambition is to build a significant company, with plans to increase engineering investment substantially and more than double the number of engineers in the team. The company has received endorsements from leading CPG brands and has raised additional funding to expand its CPG manufacturing platform. However, there are no publicly available details or references indicating which companies have recently implemented Keychain's SaaS-based AI operating system solution, KeychainOS, in the provided search results.
Despite this, Keychain's AI suggests reasonable ingredients for new projects based on learned data, helping brands and retailers find co-packers for specific products, including filtering by certification or location. The platform's growth and unique offerings position it well for continued success in the CPG manufacturing industry.
