Circulor raises $25M, demonstrating growing global demand for transparent, secure, and responsible supply chains
The Westly Group leads the Series B with HG Ventures joining for strategic added value for continued U.S. growth
London, 23 June 2022 – Circulor announces that it has raised $25 million (20 million GBP) in Series B funding, signaling growing market demand for more transparent and secure industrial supply chains. Circulor provides the most proven and mature solution for increasing supply chain visibility.
A growing number of companies are turning to Circulor to gain data-driven insights into their business risks, greater accuracy in responsible sourcing, and digital proof to enable circular business models. That’s why 20 of the world’s larger corporations have chosen Circulor as their sustainable supply chain solution including Volvo Cars, Polestar, BHP, TotalEnergies, Jaguar Land Rover, and more.
The Westly Group, a venture fund in Menlo Park, is leading the Series B round. HG Ventures of The Heritage Group is a new investor who brings strategic value across their transportation, materials, and environmental services business in North America. Existing investors Volvo Cars Technology Fund, SYSTEMIQ Capital, Jaguar Land Rover’s InMotion Ventures, Future Positive Capital, BHP Ventures, Salesforce Ventures, and 24Haymarket continued to participate in the round.
The new funds will be used to grow Circulor's global footprint, with a focus on the North American market. Since completing its Series A in June 2021, Circulor has experienced rapid demand. New customers include BHP, Southwire, Trafigura, Jaguar Land Rover, Blackstone Minerals, Urbix Inc, Element 25, and more.
“In times of growing supply chain uncertainty, Circulor’s technology helps provide visibility and ESG analytics into complex supply chains to help companies make better business decisions,” said Steve Westly, Founder and Managing Partner of The Westly Group. “We’re pleased to lead this round and back a technology that provides a critical solution in today’s business environment.”
“Circulor’s technology drives faster and more efficient insights for responsible and circular value chains,” said John Glushik, Managing Director of HG Ventures. “The unique Circulor solution helps businesses develop more transparent and resilient supply chains.”
“We are thrilled to have the support of strong financial and strategic investors. Supply chains are at an inflection point—digital transparency with Circulor can empower companies to track their materials through every step of their supply chains, mitigating risks and ensuring societal stewardship,” said the company's founder and CEO Douglas Johnson-Poensgen.
In its five years, Circulor has built a robust network tracking the provenance, production flow, and GHG emissions of raw materials used in complex supply chains like EV batteries, solar panels, and construction materials. Because of this experience, Circulor was recently named a central partner on the German Federal Government's “Battery Pass” project. Circulor will play a key role in designing the technical inputs and data space for the project, with regional and global applicability ahead of the expected enactment of the EU Battery Regulation.
Circulor is the leading sustainable supply chain traceability provider. Headquartered in the UK, with a global footprint across Germany, the U.S., Singapore, and Australia, Circulor enables businesses to fully analyze, track, and manage their supply chains to ensure responsible sourcing and improve sustainability. Circulor does this by providing an enterprise software platform, which creates a reliable chain of custody of materials and attaches GHG emissions and other ESG data directly to the flow of materials. More information can be found at www.circulor.com. Follow us on LinkedIn and Twitter.
Franziska Grammes, Director of PR