USA – Circ, a Danville, VA-based circular fashion company, raised over $30m in Series B funding.
The round was led by the Breakthrough Energy Ventures (BEV) with additional investment from new partners, including one of the world’s largest fashion retailers Inditex, global diversified manufacturer and leader in American textiles Milliken & Company, and international investment group Lansdowne Partners. Previous investors joining Circ’s latest round of funding include 8090 Partners, Alante Capital, Card Sound Capital, Circulate Capital, Envisioning Partners, and Marubeni. The company intends to use the funds to complete its engineering work for larger-scale facilities while continuing commercial launches with key partners. Funds will also be used to add core team members in engineering, R&D, management, and business development.Led by Peter Majeranowski, CEO, Circ developed a technology system that returns clothes to the raw materials from which they were made, preserving the earth’s natural resources in nature. The company’s technology is capable of separating and recovering mixed polymer streams, specifically any blend of polyester and cotton, which account for most fabrics manufactured, and hence, most of the clothing that hangs in our collective closets. Circ’s technology is projected to substantially reduce carbon emissions created by the fashion industry.12/07/2022
