Keychain raises $30m in funding as it plans further expansion
The Series B round was led by Wellington Management and existing investor BoxGroup, with other existing investors also taking part.
The funding will support roll-out plans for the company's AI based operating system KeychainOS, which is designed to helps manufacturers manage their production cycle.
The new product is taking on the established players in the system, Mr Hanrahan said, such as Oracle, Redzone, QAD and others.
READ MORE
'This an AI enabled operating system for manufacturers to better run their facilities,' he said. 'They all have little bits of the product but no one has put it together into one unified system. We think it's going to build a better way for manufacturers to run their business. We think it will help them get product to market faster and take waste out of the system.'
Keychain has raised a total of $68 million to date, 18 months after it first launched with its core product, which puts brands, retailers and manufacturers in touch with manufacturing partners, cutting out brokers and making the process more efficient and cost-effective.
'That product has a lot of room to expand,' Mr Hanrahan said. 'It's already expanded into packaging, into health, beauty and supplements. We are very excited about where it is going.'
Mr Hanrahan said the company has significant cash on its balance sheet to support its expansion, with plans to double the size of its engineering team to around 70 people.
It currently counts eight of the 10 top US retailers among its customers, with seven of the top 10 CPG brands, including General Mills also using the platform.
'Keychain has demonstrated a strong ability to bring new products to market quickly while scaling their operations effectively,' said Molly Breiner, sector lead for private climate investing at Wellington Management.
'Their approach addresses clear gaps in the CPG supply chain by offering a more streamlined and connected alternative to traditional ERP systems to create a more efficient, resilient, and connected ecosystem for manufacturers.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Times
33 minutes ago
- Irish Times
Irish fitness racing brand Tryka lands multiyear Life Style Sports sponsorship
Irish fitness competition brand Tryka has signed a 'game-changing' multiyear, title sponsorship with Life Style Sports in advance of its inaugural national event at the RDS in October. The fitness racing brand, which was created by Freshly Chopped founder Brian Lee, has been modelled as a more accessible version of German company Hyrox 's popular indoor fitness competition. The hybrid fitness league is made up of a combination of resistance and cardio exercise and is designed for participants of all fitness levels. The race format includes a series of running intervals paired with 'functional' fitness movements, with a shorter, beginner-friendly format called Tryka 500. Tryka said the deal with Life Style Sports is 'game-changing' and claimed it was 'one of the biggest ever secured by an Irish fitness start-up', but the company did not disclose the value of the deal. READ MORE 'We're delighted to have Life Style Sports on board as our title partner,' said Mr Lee, adding that their new partner understood 'the power of sport to bring people together at a local level'. In partnering with Life Style Sports, Mr Lee said Tryka was 'set to ignite a nationwide fitness revolution' and that the sponsorship would allow the business to 'grow faster, reach more people and put Ireland on the map in the emerging hybrid fitness space'. Why is Ireland not considered a truly rich country? Listen | 39:28 As part of the deal, Life Style Sports will sell Tryka's new apparel range online and in selected stores, with the gear also available at the brand's fitness events. 'Life Style Sports has a deep connection to local sport and fitness culture across Ireland, and their support will help us engage more communities, create lasting impact and grow Tryka,' he said. Mark Stafford, the chief executive of Life Style Sports – which has 40 stores across Ireland – said the company was 'proud to support an Irish-led fitness movement that's bringing people together in a new and exciting way'. He said the partnership would help Life Style Sports to 'help more people get active, stay motivated and experience the power of sport, no matter their starting point.' The first national Tryka event is set for October 11th-12th at the RDS Simmonscourt in Dublin, with tickets costing €110 per participant. The event will be part of a 12-month race calendar, which will culminate in a season finale in the Algarve in 2026. The brand will be running community workout sessions and race simulations at affiliate gyms across the country to promote the event in October.
Irish Times
4 hours ago
- Irish Times
Priests demand Irish Catholic Church sever ties with Allianz over Israel links
The Catholic Church in Ireland has been called on to immediately sever its long-standing relationship with Allianz insurance because of the multinational's connection with Israel . In a statement on Thursday, the Association of Catholic Priests (ACP) said that last June, a report published on the website of the Office of the High Commissioner for Human Rights at the UN alleged Allianz helped 'to sustain and pay for Israel's actions in the Palestinian territories'. The UN report, led by the special rapporteur on human rights in the occupied Palestinian territories, Francesca Albanese, found that asset management firms including Pimco , which is owned by German-based financial services company Allianz, was a significant buyer of Israeli treasury bonds. These bonds, the report argued, play a 'critical role in funding the ongoing assault on Gaza '. READ MORE The ACP pointed out that 'for decades, Allianz has been the trusted friend of the Catholic Church – even to the extent of enjoying representation on the Allianz board – with Catholic Church properties in Ireland including places of worship, schools, cars, etc almost all being insured by Allianz as a matter of course.' It said that 'outrage' in the church at events in Gaza would be increased exponentially by 'the revelation of the Irish Catholic Church's connection with Allianz and Allianz's connection with the state of Israel'. 'We ask that the response of the Irish Catholic Church should be immediate and far-reaching in cutting our links with Allianz,' it said. 'Nothing less is acceptable, as Irish Catholics will now be conscious of the Allianz connection – albeit by extension – and of our connection with the plight of the children we see on our television screens.' It noted how 'coincidentally' next Sunday, Catholic Primate Archbishop Eamon Martin, 'together with his fellow bishops', was 'leading a 'Day of Prayer and Reflection for Gaza' in the parishes and dioceses of Ireland'. The Archbishop, it said, had issued a pastoral letter calling for 'renewed commitment by the international community for a just and lasting peace in the Middle East'. It also encouraged Catholic religious congregations and dioceses to exercise high levels of due diligence in scrutinising investment portfolios to determine whether they were helping to sustain the 'appalling human rights abuse being inflicted on the Palestinian people'. The ACP noted, too, a petition by GAA members which had brought attention to the Allianz-GAA relationship and demands that it be ended. The association felt 'a similar demand is likely to emerge when the long and close commercial relationship of Allianz and the Catholic Church in Ireland becomes clear'. Almost 800 football, hurling and camogie players have signed an open letter asking the GAA to end its relationship with Allianz, claiming its financial ties were 'enabling the genocide of the Palestinian people'. The letter was delivered to Tom Ryan, director general of the GAA, at a protest outside Croke Park on Wednesday. Allianz is a sponsor of the GAA Football All-Ireland Senior Championship, the Allianz Leagues, the Camogie Association and Cumann na mBunscol. In a response to the GAA petition, Allianz said: 'Our long-standing partnership with the GAA is about supporting Irish sport and communities. 'Allianz Ireland is part of a global group and, while the wider group operates internationally across insurance and investment, as a matter of principle we do not comment on individual customers or business matters. What we can say is that all Allianz business decisions are guided by strict legal standards and world-leading ESG principles.' A spokesman for Allianz had 'no comment' on the ACP statement.
Irish Times
5 hours ago
- Irish Times
Dart expansion to Drogheda approved in move to supercharge commuter capacity
Plans to significantly increase commuter capacity on train services between Drogheda , Co Louth and Dublin city, including the electrification of the existing rail line, have been given the go ahead. An Coimisiún Pleanála, the planning authority, gave approval for the Dart+ Coastal North Railway Order, in a decision announced on Thursday. The current northside Dart network runs from Dublin city centre as far as Malahide and Howth. Under the new plan, electric-powered trains would operate as far north as Drogheda , incorporating a huge section of Dublin's surrounding commuter belt. Construction of the new infrastructure could take up to three years, subject to funding availability. READ MORE Irish Rail said the project would significantly increase peak hourly capacity and frequency on the northern route between Dublin city and Malahide, Howth and Drogheda. It said that potentially, capacity could nearly double from about 4,800 to 8,800 passengers at peak times. Such an increase in services would be subject to demand, it said, and would form part of a separate timetable consultation process in conjunction with the National Transport Authority. The plan involves 37km (23 miles) of electrification and re-signalling along the railway line between Malahide and MacBride Station in Drogheda. In addition there will be a reconstruction of the existing track layout in the vicinity of Drogheda, Malahide, Clongriffin and Howth Junction/ Donaghmede stations. [ The Irish Times view on public transport in Dublin Opens in new window ] However the plan to increase capacity on the northern line could necessitate timetable changes curtailing existing direct train services between Howth and Dublin city. This could involve the possible introduction of a shuttle service between Howth Junction/ Donaghamede and Howth. That potential change has generated considerable opposition from some residents using Howth, Sutton and Bayside stations as it would require passengers from those areas to change trains at Howth Junction. Irish Rail and the CIE group maintained during the planning process that any such changes would not come into effect immediately and would require further public consultation. Critics of the plan argue that a shuttle service to Howth would involve existing level crossings being closed on a more frequent basis, further inhibiting traffic. However, the planning commission said such an increase in level crossing closures would improve train efficiency and remove delays on the railway caused by congestion. It also said that while the changes may, in time, bring about a new shuttle service to Howth, general environmental impacts in terms of traffic, transportation, residential amenities, property valuation, noise and vibration would not be significant. Proposed design and security provisions at Howth Junction/ Donaghmede station would be expected to 'aid in minimising and monitoring the effects of antisocial behaviour'. Construction of the new rail infrastructure could take up to three years, subject to funding. Photograph: Hugh Dooley/ The Irish Times Remodelling the service would lead to potentially significant, negative short-term effects from the construction phase in terms of noise, vibration, dust, access restrictions and traffic including night-time work. However, it said, these would be mitigated through compliance with an environmental and traffic plan as well as best-practice building methods. Irish Rail chief executive Jim Meade described the decision as 'a great day' for the communities of north Dublin and Co Louth. 'The provision of Dart services will transform commuting for the existing and new communities along this railway corridor,' he said. Minister for Transport Darragh O'Brien said the new initiative would facilitate a significant improvement in train capacity and frequency on the Northern commuter line, following project procurement and construction. 'In the meantime, I look forward to the launch of the sustainable new Dart+ battery-electric train fleet, which is currently undergoing testing and which will be initially deployed on the northern line between Dublin and Drogheda when operational,' he said.
