Circular fashion company Circ has raised $25 million in Series B extension funding. This comes in the backdrop of the company raising $30 million in Series B funding in July last.
The Funding: European e-commerce bigwig Zalando, materials science and manufacturing company Avery Dennison, and Korean manufacturing corporation Youngone participated in the all-equity extension round.
- Existing investors 8090 Industries, Circulate Capital, Vodia Capital and City Light Capital also participated in the round, which did not grant any additional board seats.
Raising Keen Interest: The Circ technology uses water, pressure and responsible chemistry to recover the Earth’s ingredients from man-made products to make incredibly useful new materials.
- Circ says: It all started with biofuels and ended up with clothing fibres. It’s part recycling, part groundbreaking science.
- The company's flexible technology platform can accept a broad spectrum of starting materials (cotton, polyester, polycotton) and be adjusted to achieve the product specifications of the customers at an "affordable" cost.
- Circ says that the tunability and flexibility of the platform makes it uniquely suitable for the varied needs of the fashion industry, in which circular market solutions are in high demand.
