A B2B marketplace that links together buyers and sellers for make-to-order manufacturing has scored a big investment payday.
The marketplace, Chicago-based CADDi, recently raised $89 million in new funding from existing investors. Those include:
- Globis Capital Partners
- DCM Ventures
- Global Brain
- World Innovation Lab (WiL)
- JAFCO Group
- Minerva Growth Partners
Since CADDi was founded in 2017, the marketplace operator has raised $145 million in total funding. CADDi will use the money to add employees and develop new technology for its marketplace.
CADDi links together buyers and sellers of make to order manufacturing, a production approach where products are not built until a confirmed order for products is received.
“Our goal by 2030 is USD 10 billion in transactions, and in terms of globalization, we aim to have major manufacturing in 30-40 countries worldwide,” CADDi founder Yushiro Kato recently told TheWorldFolio. “We plan to have the entire basic operations of the company automated by then, and we are currently creating technologies to achieve that.”
CADDi is headquartered in Tokyo but has global operations in five countries and recently opened an office in Chicago. The marketplace offers as make to order manufacturing two offerings including CADDi Manufacturing, a parts procurement platform, and CADDi Drawer, a cloud service for managing drawing data.
The company has major plans to scale globally in just under seven years.
“The new investment will be primarily deployed to bolster the CADDi manufacturing division, enhance technological capabilities of CADDi Drawer, and expand the global workforce to achieve our goals of generating $10 billion in revenue by 2030, with CADDi Drawer contributing over $100 million in ARR within a few years and $1 billion in revenue by 2030,” the company says. “To achieve our targets, the U.S. office will expand to 100 employees within a year.”
The marketplace says it works with 600 global manufacturers and serves more than 300 customers. CADDi began operations in Chicago in January.
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