CADDi, a Chicago, IL-based provider of procurement solutions for the manufacturing industry, raised $89M in Series C funding.
The round, which brought the total amount to $164M, included Globis Capital Partners, DCM Ventures, Global Brain, World Innovation Lab (WiL), JAFCO Group and Minerva Growth Partners, Green Coinvest Investment Limited Partnership, SUMITOMO MITSUI TRUST INVESTMENT, SMBC Venture Capital, and Mitsubishi UFJ Capital.
The company intends to use the funds to bolster the “CADDi Manufacturing” division, enhance technological capabilities of “CADDi Drawer,” and expand the workforce to achieve its goals.
CADDi is a supply chain company whose primary offering includes CADDi Manufacturing, a parts procurement platform, and CADDi Drawer, a cloud service for managing drawing data.
The company, which has a strong presence in Japan, is also concentrating on international expansion. With 590 employees globally, it has recently established a US division and Mexico supplier operations to cater to American manufacturers.
FinSMEs
05/07/2023