Keychain Hits One Year Live, Announces $1 Billion in Projects Posted Per Month, Launches Packaging and Ingredients Verticals, and Funding From European Retailer

Keychain, the AI-powered manufacturing platform transforming the consumer packaged goods (CPG) industry, has announced an additional $5 million investment led by Bright Pixel Capital, the VC arm of the European retail conglomerate Sonae. This latest funding comes as Keychain takes its core search and discovery product out of beta and introduces new platform capabilities.

Since November 2023, Keychain has raised $38 million with support from leading venture firms BoxGroup, Lightspeed Venture Partners, and SV Angel as well as other CPG giants General Mills, The Hershey Company, and Schreiber Foods. This latest investment from Bright Pixel not only reinforces Keychain’s position as a key player in the CPG manufacturing ecosystem but also signals its readiness to enter the European market.

Keychain’s AI-powered platform, which enables brands, retailers, and manufacturers to quickly connect with manufacturing partners, is streamlining what has traditionally been a fragmented and time-intensive search and discovery process. The platform boasts a network of 30,000+ manufacturers and 20,000+ brands and retailers and, as of today, is now facilitating over $1 billion in projects each month.

Now, with its search and discovery platform officially exiting the beta phase, Keychain is expanding its capabilities with the launch of two new beta products: Keychain packaging and ingredients. These products will allow brands to streamline the process of sourcing packaging materials and ingredient suppliers for their products, empowering them to quickly meet consumer demand for more sustainable and efficient production methods.

“Since Keychain launched last year, we’ve been focused on bringing much-needed transparency to the United States’ CPG manufacturing ecosystem,” said Oisin Hanrahan, Co-founder and CEO of Keychain. “At the same time, we’ve been looking into how we can bring our capabilities to other geographies, and the support of Bright Pixel is a huge step in that direction. We’re also excited to continue building our depth with new tools that will streamline the ways brands source packaging and ingredients.”

“We’re proud to invest in Keychain at such an exciting moment in their journey,” said Manuel Queiroz, Director at Bright Pixel Capital. “Our team is confident in Keychain’s ability to modernize the global CPG supply chain and is exactly what the European CPG supply chain needs. We look forward to supporting Keychain as they expand their offerings and into more geographies.”

Bright Pixel’s strategic investment marks a pivotal step in Keychain’s evolution and underscores the platform’s potential to bring meaningful change to the global manufacturing industry.

Keychain is bringing a new era of transparency to the CPG manufacturing ecosystem by cutting out brokers who have historically profited by creating information asymmetry that drives up the costs of goods. In response, Keychain is using AI to eliminate these fees and other unnecessary costs, ultimately lowering the prices consumers see on store shelves.

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