Caddi, a Japan-based ordering and supply platform for the manufacturing sector, has raised $73m in a series B round co-led by education services provider Globis, Tech Crunch has reported.
Globis co-led the round through its Globis Capital Partners subsidiary alongside venture capital firm World Innovation Lab (WiL).
SBI Investment, a corporate venturing subsidiary of financial services firm SBI Group, also backed the round together with DCM, Global Brain, Arena Holdings, DST Global, Minerva Growth Partners, Tybourne Capital Management and Jafco Group.
Founded in 2017, Caddi has built a business-to-business ordering and supply platform for the manufacturing and procurement sectors.
The platform leverages an automated calculation system for manufacturing costs and databases of manufacturing facilities in Japan to aggregate and rebalance supply and demand.
The money will go towards Caddi’s global expansion efforts, as well as recruitment activities and the digital transformation of its platform.
The round has increased its total funding to $90.5m and provided a post-money valuation of $450m, sources told TechCrunch.
DCM led Caddi’s $9m series A round in 2018, which featured Globis Capital Partners and WiL and Global Brain.