Keychain, a manufacturing platform catering to the packaged goods sector, announced securing $18 million in a seed funding round spearheaded by Lightspeed Venture Partners. This funding round also saw participation from BoxGroup, Afore Capital, SV Angel, and more than 20 experts within the consumer packaged goods industry. Umang Dua, the Chief Operating Officer and Co-Founder, revealed that the New York-headquartered startup is in the process of establishing its entire engineering team in Gurgaon. Despite this, the core operations of the business will revolve around the worldwide manufacturing domain.

Keychain, initiated in 2023 by founders Dua and Oisin Hanrahan, who previously launched Handy and steered it to an Angi acquisition, aims to revolutionize the manufacturing industry through its proprietary AI platform. With an initial network exceeding 10,000 manufacturers, Keychain intends to assist brands in locating suitable manufacturing partners. Its services encompass competitive intelligence, manufacturer sourcing, negotiation of terms, onboarding, and compliance. Presently, Keychain's platform is exclusively accessible to invited partners, but the company plans to open it to select retailers and brands by 2024.

The leadership team comprises CEO Oisin Hanrahan and Co-Founder Umang Dua, who took up key roles as Chief Executive and Chief Revenue Officer at Angi post the merger. They are supported by Co-Founder Jordan Weitz, previously associated with private equity and venture capital firms. CEO Oisin Hanrahan emphasized the challenge faced by brands and retailers in finding appropriate manufacturing partners within the complexity of the existing system, stating a focus on producing superior products like healthy food, high-quality cosmetics, and ethically-sourced coffee. Raviraj Jain, a partner at Lightspeed Venture Partners, commended Keychain's approach to addressing this complex issue using intelligent technology and extensive marketplace knowledge.