Circ raises $30m+ with backing from apparel and tech industry giants — Retail Technology Innovation Hub
Summary
"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," says Peter Majeranowski, CEO at Circ. "The latest round of funding will help the company complete its engineering work for larger scale facilities while continuing commercial launches with key partners.Funds will also be used to add core team members in engineering, R&D, management, and business development. "The textiles industry is estimated to account for over 1 Gt of CO2-equivalent emissions per year as of 2016, the largest portion of which comes from raw materials," says Carmichael Roberts at Breakthrough Energy Ventures. "We are very excited to announce Circ as our first venture investment in a clean technology company," says \xd3scar Garc\xeda Maceiras, Chief Executive Officer at Inditex. We look forward to contributing our knowledge and corporate capabilities to Circs rapid success and achievement of industrial scale.