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Exclusive: BEV-backed clothing recycler Circ nets $25M

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Mar 1, 2023
Illustration of a recycling symbol being stitched onto fabric.

Illustration: Gabriella Turrisi/Axios

Circ, a textile recycler, raised $25 million in Series B extension funding, the company exclusively tells Axios.

Why it matters: The fashion industry is among the highest-emitting industries, and companies across the sector are seeking to address the issue in its textile supply chains to make progress toward net zero.

How it works: Circ breaks down polymers used in textiles and separates the individual fibers that can be reused in new clothing.

  • Circ recycles textiles by breaking down polymers into individual fibers. Those fibers are respun and used in clothing production without creating new emissions.

Details: European e-commerce group Zalando, Fortune 500 packaging 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 reupped in the round, which did not grant any additional board seats.
  • Bill Gates-founded Breakthrough Energy Ventures led Circ's $30 million Series B in July.

Between the lines: Circ's newest investors allow it to double down on manufacturing and packaging partnerships.

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