Circ, a leading textile-to-textile recycling company, has successfully raised $25 million in an oversubscribed funding round. The investment was spearheaded by Taranis, a notable asset management firm, through its Carbon Ventures fund. This round also saw continued backing from existing strategic investors, including Inditex and global materials science company Avery Dennison.
Notably, Circ previously secured $25 million during its Series B funding extension two years ago, with participation from Taranis and the parent company of Zara. In 2022, it raised over $30 million in Series B funding led by Breakthrough Energy Ventures, following an $8 million Series A round in 2020 led by Patagonia’s investment arm, Tin Shed Ventures.
The recent funding will enable Circ to advance the significant technical and commercial progress achieved in the past 18 months. These additional resources are intended to enhance the company’s recycling technology and address the waste challenges in the textile industry. Circ’s innovative hydrothermal process allows for the efficient separation of blended textiles, reclaiming both polycotton components to produce cellulosic pulp and new fibers from recycled PET.
Peter Majeranowski, CEO of Circ, emphasized the importance of scaling textile recycling to an industrial level and highlighted Taranis’s expertise in engineering and large-scale operations as an asset to their mission. Emmanuel Colombel, CEO of Taranis, echoed this sentiment, stating that Circ’s breakthrough solution for circularity in fashion aligns with their commitment to supporting scalable technologies that minimize waste and emissions.
Together, Circ and Taranis aim to transition the textile industry towards a more sustainable and circular economy.
