In Series B Circ, Danville,Va., reports it has raised more than $30 million in Series B funding. The circular fashion company has developed a technology system in order to return clothing to the raw materials from which they were made to eliminate clothing waste. The system can separate and recover mixed polyester streams such as polyester/cotton blends.
The latest round of financing was led by the Bill Gates-founded Breakthrough Energy Ventures, with other investment from Inditex, Milliken & Company and Lansdowne Partners. Previous investors include 8090 Partners, Alante Capital, Card Sound Capital, Circulate Capital, Envisioning Partners and Marubeni.
“Combining best-in-class financial investors, led by Breakthrough Energy Ventures with investment from fashion market leader Inditex, is a springboard to rapid, large-scale manufacturing success,”explained Peter Majeranowski, Circ CEO. “With this investment round, we’ve secured suppliers, purchasers, and major financial stake-holders to establish a much cleaner fashion future.”