Circ concludes financing round over $ 25 million

The textile-to-textile recycling company Circ has completed a round of funding in the amount of $ 25 million (around 23.06 million euros), which was led by the investment and asset management company Taranis. In a press release, the US company said on Monday that the financing and expertise of the new partner would support the “transition from demonstration to industrial production”.

In addition to Taranis, which invested through her carbon ventures fund, this recent round was also supported by existing strategic investor: inside, including Avery Dennison, a company that specializes in materials science and digital identification solutions, as well as the Zara mother company Inditex. The latter has already worked with Circ in commercial cooperation. [Die beiden Unternehmen haben 2023 eine Zara-Kollektion herausgebracht](https://fashionunited.de/nachrichten/business/zara and-circ-bangen-kycyceltem-polycotton-fon-den-markt/2023041851090, which uses the recycled polycotton mixed tissue from Circ.

Exactly this type of textile is the focus of Circ. However, the company plans to further expand its offer to build on the “large technical and commercial progress” that it has achieved in the past 18 months. To achieve this, Circ is planning to build its first recycling system for mixed tissue on an industrial scale and hopes that its partners: inside, including Taranis, will bring in their expertise for the operation of such a project.

Circ planned the first textile recycling system on an industrial scale

“This chapter of Circs Weg – the scaling of the textile recycling to an industrial level – requires that we build on our tried and tested technology with first -class engineering, operation and strategic investments by partners: inner: our mission. Taranis brings exactly that with, “says Peter Majeranowski, Chief Executive Officer from Circ.” Your industrial expertise, coupled with our innovation, positions Circ to accelerate the transition to a circular economy in the fashion industry. “

Circ had already received $ 25 million in financial resources in March 2023 and then welcomed the German online retailer Zalando and the Korean production group Youngone as new investors. This added an earlier series B financing round of $ 30 million, which was announced in 2022 and was one of the donors in Inditex.

The technology of the company attributes clothing to its raw materials, separates and wins mixed polymer currents and every mixture of polyester and cotton and thus contributes to its overarching goal of reducing the carbon emissions caused by the fashion industry. When the company worked with the Spanish giant Zara, it was said that the technology of Circ is “the only platform that successfully separates polycotton mixing tissue” and recovered cellulose and synthetic fibers.

This recent financing “confirms the progress and dynamics of the company” and despite a difficult environment for textile recycling companies that have to deal with limited commercial support and a lack of financing options.

In the eyes of Taranis Ceo Emmanuel Colombel, however, Circ “demonstrated a groundbreaking solution for the circular economy in the fashion industry, and we believe that our industrial expertise can help to raise them to the next stage”. Colombel continued: “Our goal is to support scalable, pragmatic technologies, reduce waste and emissions. The vision of Circ fits perfectly with this mission, and we look forward to supporting Circ on its way to a more circular and responsible fashion industry. ”