The consumer packaged goods (CPG) industry is one of the largest and most complex markets in the world, yet the process of sourcing manufacturers and suppliers has remained largely outdated. Many brands still rely on trade shows, brokers, and word-of-mouth referrals to find partners for packaging, ingredients, and production—a process that is both expensive and time-consuming.
With the rise of AI-powered supply chain solutions, this landscape is rapidly changing. One company leading this transformation is Keychain, an AI-driven platform that connects brands, retailers, and manufacturers through real-time data insights. Recently, Keychain raised $5 million in funding from Bright Pixel Capital, the venture capital arm of European retail powerhouse Sonae, as it gears up for expansion into Europe’s CPG market.
Bringing AI to CPG Sourcing
Keychain was founded by Oisin Hanrahan (CEO), Umang Dua, and Jordan Weitz, the same team behind Handy, which was successfully acquired by ANGI Homeservices. Recognizing the inefficiencies in sourcing manufacturers, ingredients, and packaging materials, they built Keychain to eliminate manual guesswork and optimize sourcing decisions using AI.
According to Hanrahan, CPG brands and retailers spend millions attending hundreds of trade shows each year, hoping to connect with the right suppliers. However, without a digital platform to organize and analyze supplier data, finding the right manufacturing partners remains a costly challenge.
Keychain’s AI-driven approach solves this problem by:
- Providing access to 30,000+ manufacturers and 20,000+ brands and retailers.
- Matching companies with the best suppliers based on real-time data.
- Reducing costs by eliminating the need for traditional brokers.
“We’ve probably spent $3 million on building the data asset, and I think we’re probably 10x to 15x more efficient because of our ability to use AI,” Hanrahan told TechCrunch.
$1 Billion in Projects and Growing
Since launching, Keychain has seen rapid adoption, with over $1 billion in projects submitted through its platform. The company has also recently introduced dedicated tools for packaging and ingredient sourcing, allowing brands to streamline procurement and scale production faster.
Keychain’s rapid growth has also attracted significant investment. To date, the company has raised $38 million, with backing from leading venture firms such as BoxGroup, Lightspeed Venture Partners, and SV Angel. Additionally, CPG giants General Mills, The Hershey Company, and Schreiber Foods have invested in the platform, further validating its impact on the industry.
Expanding to Europe: The Future of AI-Driven Sourcing
With its latest funding, Keychain is preparing to launch in Europe later this year. The company has already secured a strategic investment from one of Europe’s largest retailers, positioning itself as a key player in the European supply chain market.
As AI continues to optimize sourcing, procurement, and supply chain management, platforms like Keychain are setting a new standard for efficiency, cost reduction, and supplier transparency. For brands looking to scale their operations, improve sourcing reliability, and navigate global markets with confidence, AI-driven solutions are no longer a luxury—they are a necessity.
