Can Keychain Be The Missing Link Between Brands And Consumer Goods Manufacturers?

In the vast expanse of the United States, about 20,000 different manufacturers are churning out a myriad of branded products. Now, have you ever wandered into a shopping mall and gotten lost in the maze of aisles and racks, desperately seeking one product among hundreds?

Oisin Hanrahan felt the pain of manufacturers, sparking the inspiration for his new startup, Keychain.

With a dash of technology, a sprinkle of innovation and a generous serving of ambition, Keychain is set to transform how we fill our shopping carts and revolutionize how packaged food manufacturers find their perfect match.

Wait…wait…what is Keychain? Who is Hanrahan?

Well, Keychain is New York City's latest bustling startup, which has entered the scene as a heavyweight contender in the consumer-packaged goods (CPGs) world. Keychain is led by former Angi (formerly Angie's List) CEO Oisin Hanrahan; this innovative venture aims to revolutionize how packaged food brands connect with manufacturers.
Reportedly, this startup is poised to shake things up with a whopping $18 million in seed funding led by Lightspeed Venture Partners, Box Group, Afore Capital, Ron Conway, and others.
Hanrahan, in a lively video conference interview, unveiled, "What we're doing is building the first true platform and marketplace for CPG (consumer packaged goods) manufacturing." He highlighted their mission of bridging the age-old gap between CPG manufacturing’s demand and supply.

Source

Now, you might be wondering how Keychain aims to help manufacturers:

According to Hanrahan, "Retailers and brands have a particular pain point: when you ask them what's the hardest part of running their business they say finding a great manufacturer."
He further highlighted, "There are 20,000 different manufacturers in the U.S. alone and many more different branded products sold on store shelves of major grocery stores, supermarket chains, and retailers."
He realized there has been a "huge shift" over the last decade in the CPGs sold in the US, that is "the rise in the private label. We've seen it in every retailer: Amazon with Amazon Basics, Whole Foods with 365, Costco with Kirkland," Hanrahan explained.
Besides, Keychain is not just another technology giant looking to ride the generative AI hype. Instead, they're leveraging traditional AI with plans for a chatbot that can magically conjure up a list of suitable manufacturers based on specific product requirements.
"This product would be prohibitively expensive to build without AI," Hanrahan said in an interview. "Without the use of AI in collating, cataloging, and researching all of the millions of products needed to make this comprehensive, and comb through the vast amounts of internal proprietary and external data, it would be prohibitively expensive, frankly, to build this product. So, it's a really important part of what powers Keychain."

Keychain isn't just unlocking doors; it's opening a whole new world of possibilities for the CPG manufacturing industry.

Can Keychain be the game-changer in the world of goods manufacturing? Should more manufacturers look for similar strategies to simplify the consumer experience?

Feel free to serve your thoughts in the comments section below!

First published on Fri, Nov 17, 2023

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