CPG startup Keychain snags $30M to build in India, grow in the US

Keychain, a consumer packaged goods (CPG) startup, has secured $30 million in funding to expand its operations in India and grow its presence in the United States. The company, which currently has no customers in India, has a team based in Gurugram, a suburb of New Delhi, that is responsible for scaling the business across North America and beyond. The funding round was led by Elevation Capital, with participation from existing investors, including Sequoia Capital India, Accel, and Matrix Partners India. The company plans to use the new capital to strengthen its technology and operations, as well as to fuel its expansion into new markets. Keychain's unique approach to the CPG industry, which involves leveraging technology to optimize supply chain and logistics, has attracted significant interest from investors. The company's ability to build a team in India to support its global growth is seen as a strategic advantage in the highly competitive CPG market.