Japanese B2B manufacturing platform banks $73m in series B money

“[Caddi] announced this morning a US$73 million series B round co-led by Globis Capital Partners and World Innovation Lab (WiL), with participation from existing investors DCM and Global Brain,” TechCrunch reported.nDetails:nnOther investors in the round, which pushed the Japan-based firm’s post-money valuation to an estimated US$450 million, include Arena Holdings, DST Global, Minerva Growth Partners, Tybourne Capital Management, Jafco Group, and SBI Investment.nThe manufacturing-focused ordering and supply platform will use the new funds to accelerate its digital transformation initiatives and make new hires as it expands to other markets globally, especially in Southeast Asia. Caddi CEO and co-founder Yushiro Kato said the company aims to log sales of US$9.1 billion by 2030.nnDive deeper:nnAccording to the chief executive, the investment comes as demand for Caddi’s services has seen an over 6x growth in 2021 so far compared to the previous year.nA recent report from Deloitte expects the global manufacturing industry to log an annual gross domestic product growth rate of 3.5% for 2021 after declining by 6.3% last year due to the Covid-19 pandemic.n