Circular, a San Francisco, CA-based provider of a sustainable sourcing platform, raised $10.5M in funding.
The round was led by Maniv, Oxygea, and Eclipse.
The company intends to use the funds to grow its team, expand to additional sustainable materials, continue to add more companies and suppliers, and deepen the scale and functionality of its platform.
Led by Ian Arthurs, Founder and CEO, Circular provides access to over 9,000 global suppliers with over 50,000 PCR technical records codified using artificial intelligence (AI), including details such as price, specs, and volume of materials, and supplier certifications. Its database brings visibility and transparency to an – until now – disjointed, opaque, and illiquid industry. The company handles the searching, sourcing, vetting, and onboarding process for its customers, with results in days compared to months or even years, using analog methods.
Commenting on the news, Ian Arthurs said: “Existing relationship-driven systems fail to provide the information necessary for buyers to make fast informed decisions, and on the flip side, suppliers have a hard time being discovered by and getting access to serious buyers. Circular unblocks these common issues using data and technology to help buyers and sellers navigate the global market efficiently. Armed with our data, buyers and suppliers make faster and smarter business decisions and simplify their process to get sustainable materials into production now.”
FinSMEs
25/03/2024