London-based blockchain-enabled climate tech startup Circulor that gives organisations full visibility of their supply chains has grabbed $25 million in Series B funding.
The Westly Group, a venture fund in Menlo Park, California, led the funding round. HG Ventures of The Heritage Group is a new investor in the round that has been joined by existing investors – Volvo Cars Technology Fund, SYSTEMIQ Capital, Jaguar Land Rover’s InMotion Ventures (which backed Carmoola), Future Positive Capital, BHP Ventures, Salesforce Ventures, and 24Haymarket.
Focuses on North America
The fresh funds will be deployed for the growth of Circulor’s global footprint with a focus on the North American market.
“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 Circulor’s founder and CEO Douglas Johnson-Poensgen.
Sustainability in supply chains
Founded by Veera Johnson and Douglas Johnson-Poensgen in 2017 in London, Circulor traces commodities from extraction to the finished product, supporting manufacturers with their sustainability goals. Using blockchain and AI, Circulor’s enterprise SaaS platform facilitates responsible sourcing, helps demonstrate sustainable production, and underpins effective recycling and reverse logistics. It builds supply chain networks and utilise data insights across these networks to better identify issues within them.
Its technology uses a digital identity to commodities and tracks the supply chain data and keeps a check on the embedded carbon at each stage of production, recycling and end-of-life. It provides complete visibility across traditionally opaque and complex supply chains, thereby helping companies address ESG objectives.
Circulor’s solution has been sold to the EV industry and is available to the automotive manufacturers and suppliers to track materials such as cobalt, mica and lithium. Also, it tracks others, including nickel, copper, plastics, and leather, and is deployed in circular economy solutions such as the remanufacturing of automotive parts.
It helps customers reduce emissions across their entire value chains and to fulfil their emission reduction and climate-neutral commitments.
As there is a growing market demand for more transparent and secure industrial supply chains, some large corporations have chosen Circulor as their sustainable supply chain solution, and these include Volvo Cars, Polestar, BHP, TotalEnergies, Jaguar Land Rover and more. It operates with offices in the US, Germany, Singapore, and Australia.
