CADDi raises $89M Series C to scale its B2B supply chain marketplace for manufacturing parts
- But the problem is consumers cannot get optimal pricing with low- to mid-volume production manufacturers due to volume constraints.The outfit says the CAADi Manufacturing platform eliminates some procurement work and aggregates orders to help find similar materials, processes and suitable delivery schedules.
- Today, a startup called CADDi, which operates a business-to-business (B2B) marketplace for the manufacturing industry, said it has raised $89 million in a Series C round, bringing its total capital to $164 million, to scale its business and help those equipment manufacturing players.
- CADDi Drawer offers access to “all procurement data” and details that impact quality, cost and delivery (QCD); its platform also enables users to save significant time and costs while allowing manufacturers to improve QCD with more drawings created.
- “So, instead of more drawings providing more improvement, it’s almost like the data is never saved, and people are forced to start from scratch every time.” CADDi claims it works with 70% of Japan’s top 20 industrial equipment manufacturers (by revenue) for CADDi Manufacturing.
- It will use the proceeds to enhance CADDi manufacturing and CADDi Drawing and expand its workforce in the U.S., aiming to reach its goals of posting $10 billion in revenue from CADDi manufacturing and $1 billion in revenue from CADDi Drawer by 2030.
- Some of the pains in the procurement industry in the U.S. are similar to those in Japan, Kato said, citing not only labor shortages in the manufacturing sector but also many ongoing mergers and acquisitions.
The pandemic has damaged the entire manufacturing supply chain, which is not likely to return to normal until at least 2024 due to a few challenges, including the ongoing U.S.China tech battle. Acco [+4306 chars]