U.S.-based startup Keychain has secured $30 million in new funding, aiming to expand its India development team as it pushes for faster growth across North America.
The Series B round was led by Wellington Management with participation from BoxGroup and other existing backers, bringing Keychain’s total funding to $68 million. CEO Steve Hanrahan noted that the company still has more than $50 million in reserves. While he did not share the latest valuation, he confirmed to TechCrunch, it was a “good step up” from the $260 million post-money valuation set during the $15 million raise in November 2024.
Keychain runs as a distributed company with its core engineering and product work driven out of India while headquartered in New York. With the new funding, the startup is doubling down on this model, planning to expand its Gurugram teams in engineering, product design, and analytics from 35 to 70 in the coming months, and close to 100 within a year.
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The startup’s choice of Gurugram is a calculated bet. Half of its 70-member workforce is already based there, while around 20 sit in New York and the rest in Austin, handling partnerships, go-to-market, and sales. Anchoring development in India’s second-largest tech hub gives the startup access to top engineering and analytics talent at competitive costs, helping it sharpens its CPG platform for North American clients.
Oisin Hanrahan, co-founder and CEO of Keychain, in an interview as quoted in TechCrunch, “It’s the talent, depth, availability, and the speed with which you can access talent of that depth and availability [in India].”
The Gurugram team will play a central role in both enhancing Keychain’s existing platform, launched in February 2024, now used by more than 20,000 brands and retailers and developing new AI-driven tools for manufacturers. The upcoming suite, called KeychainOS, is designed with four modules, one of which is already live. That first module helps manufacturers meet food safety standards by turning raw data into auditor-ready reports and even retrieving insights through natural language queries. The remaining three modules will target procurement, inventory, and production planning.
Beyond big names like 7-Eleven, Whole Foods, and General Mills, Keychain’s platform supports brands and retailers in categories such as food, beverages, supplements, health, and beauty. The company now plans to broaden that scope to pet care and household products by the end of the year. At present, its business is focused on the U.S. and Canada, with Europe set as the next market on its expansion roadmap, as said by the Startup.
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Hanrahan co-founded Keychain in 2023 with Umang Dua (his partner from Handy, the home services startup later acquired by Angi) and Jordan Weitz. Drawing on their past experience, the founders said one of the biggest lessons from Handy and Angi was how difficult it was to build data analytics software giant Databricks a “sustainable, enduring” engineering team in the U.S. Dua’s New Delhi roots, Hanrahan added, became a “natural advantage” in anchoring Keychain’s core teams in Gurugram in a statement to TechCrunch.
India has long been the back office for global tech, but Keychain is using it as a front line for innovation. Unlike firms chasing local customers, it is building squarely for Western markets, putting it in the same league as companies like Deliveroo, Gojek, and Grab that rely on India’s tech talent to power products without ever selling in the country.