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Circular Announces $10.5M in Funding to Scale First-of-its-Kind Platform for Sourcing Recycled Materials

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Circular, Eclipse Ventures, the leading sustainable sourcing platform, secured $10.5M to expand its massive database of post-consumer recycled (PCR) materials and its accompanying platform that streamlines buying and selling of PCR materials. The financing includes a new $5.3M round, backed by Maniv, Oxygea, and Eclipse, which followed a $5.2M seed round previously led by Eclipse. Circular will use the funding to grow its team, expand to additional sustainable materials, continue to add more companies and suppliers, and deepen the scale and functionality of its platform.

Circular provides access to over 9,000 global suppliers with over 50,000 PCR technical records codified using artificial intelligence (AI), including details such as price, specs, and volume of materials, and supplier certifications. Its extensive database brings visibility and transparency to an – until now – disjointed, opaque, and illiquid industry. Circular handles the searching, sourcing, vetting, and onboarding process for its customers, with results in days compared to months or even years, using analog methods.

Read more at Business Wire