Circulor, a London, UK-based provider of supply chain traceability and dynamic CO2 tracking solutions, raised $14m in Series A funding.
The Westly Group led the round with participation from Salesforce Ventures, BHP Ventures, Future Positive Capital, 24Haymarket and Sky Ocean Ventures. Existing investors in the company include Boeing HorizonX, Volvo Cars Technology Fund, Jaguar Land Rover’s CVC arm, InMotion Ventures, SYSTEMIQ, Plug and Play and TotalEnergies Ventures. Steve Westly, Founder and Managing Partner of The Westly Group, will join the Circulor board.
The company intends to use the funds to drive ongoing innovation and extend its presence in North America and Asia.
Led by Douglas Johnson-Poensgen, CEO, Circulor enables businesses to fully analyse, track and manage their supply chains to support responsible sourcing and improve sustainability. It does this by providing an enterprise software platform, which creates a reliable chain of custody of materials and attaches sustainability and other ESG data to that flow of materials. The technology assigns a digital identity to commodities and tracks the supply chain data and embedded carbon at each stage of production, recycling and end-of-life.
The company serves Volvo Cars, Polestar, BHP, and LG Energy Solutions.