Skip to content
Search AI Powered

Latest Stories

Procurement solutions provider raises $89 million

CADDi says its products will accelerate digital transformation in manufacturing.

caddi img_foodprocessing_packaging.jpeg

A Chicago-based procurement solutions provider has raised $89 million in financing and says the funding will be used to accelerate digital transformation initiatives in manufacturing, according to CADDi Inc.

The “series C” round was co-led by existing investors including Globis Capital Partners, DCM Ventures, Global Brain, World Innovation Lab (WiL), JAFCO Group, and Minerva Growth Partners. with participation from four new investment partners. It brings CADDi’s total capital raised to $164 million.


The six-year-old firm says it aims to revolutionize the manufacturing sector by providing two solutions: CADDi Manufacturing, a parts procurement platform, and CADDi Drawer, a cloud service for managing drawing data.

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 progress toward a goal of generating $10 billion in revenue by 2030. The firm also said its U.S. office will expand to 100 employees within a year.

CADDi, which has a strong presence in Japan, is also concentrating on international expansion. With 590 employees globally, it has recently established a U.S. division and Mexico supplier operations to cater to American manufacturers.

 

 

The Latest

More Stories

person using AI at a laptop

Gartner: GenAI set to impact procurement processes

Progress in generative AI (GenAI) is poised to impact business procurement processes through advancements in three areas—agentic reasoning, multimodality, and AI agents—according to Gartner Inc.

Those functions will redefine how procurement operates and significantly impact the agendas of chief procurement officers (CPOs). And 72% of procurement leaders are already prioritizing the integration of GenAI into their strategies, thus highlighting the recognition of its potential to drive significant improvements in efficiency and effectiveness, Gartner found in a survey conducted in July, 2024, with 258 global respondents.

Keep ReadingShow less

Featured

Report: SMEs hopeful ahead of holiday peak

Report: SMEs hopeful ahead of holiday peak

Businesses are cautiously optimistic as peak holiday shipping season draws near, with many anticipating year-over-year sales increases as they continue to battle challenging supply chain conditions.

That’s according to the DHL 2024 Peak Season Shipping Survey, released today by express shipping service provider DHL Express U.S. The company surveyed small and medium-sized enterprises (SMEs) to gauge their holiday business outlook compared to last year and found that a mix of optimism and “strategic caution” prevail ahead of this year’s peak.

Keep ReadingShow less
retail store tech AI zebra

Retailers plan tech investments to stop theft and loss

Eight in 10 retail associates are concerned about the lack of technology deployed to spot safety threats or criminal activity on the job, according to a report from Zebra Technologies Corp.

That challenge is one of the reasons that fewer shoppers overall are satisfied with their shopping experiences lately, Lincolnshire, Illinois-based Zebra said in its “17th Annual Global Shopper Study.”th Annual Global Shopper Study.” While 85% of shoppers last year were satisfied with both the in-store and online experiences, only 81% in 2024 are satisfied with the in-store experience and just 79% with online shopping.

Keep ReadingShow less
warehouse automation systems

Cimcorp's new CEO sees growth in grocery and tire segments

Logistics automation systems integrator Cimcorp today named company insider Veli-Matti Hakala as its new CEO, saying he will cultivate growth in both the company and its clientele, specifically in the grocery retail and tire plant logistics sectors.

An eight-year veteran of the Georgia company, Hakala will begin his new role on January 1, when the current CEO, Tero Peltomäki, will retire after a long and noteworthy career, continuing as a member of the board of directors, Cimcorp said.

Keep ReadingShow less

Securing the last mile

Although many shoppers will return to physical stores this holiday season, online shopping remains a driving force behind peak-season shipping challenges, especially when it comes to the last mile. Consumers still want fast, free shipping if they can get it—without any delays or disruptions to their holiday deliveries.

One disruptor that gets a lot of headlines this time of year is package theft—committed by so-called “porch pirates.” These are thieves who snatch parcels from front stairs, side porches, and driveways in neighborhoods across the country. The problem adds up to billions of dollars in stolen merchandise each year—not to mention headaches for shippers, parcel delivery companies, and, of course, consumers.

Keep ReadingShow less