What is Cyclic Materials?
Headquartered in Kingston, Canada, Cyclic Materials is at the forefront of developing an innovative recycling process designed to create a more sustainable and domestic supply chain for rare earth elements (REEs) and other critical metals. The company's proprietary technology focuses on re-circulating REEs back into the manufacturing process, thereby significantly reducing the environmental impact associated with traditional extraction methods and supporting the global energy transition. This approach positions Cyclic Materials as a key player in the circular economy, addressing the growing demand for these essential materials while mitigating ecological concerns.
How much funding has Cyclic Materials raised?
Cyclic Materials has raised a total of $157M across 4 funding rounds:
Series A
$27M
Series B
$53M
Other Financing Round
$2M
Series C
$75M
Series A (2023): $27M with participation from Fifth Wall, BMW, Energy Impact Partners, Planetary Technology, and Bioindustrial Innovation Canada
Series B (2024): $53M led by Hitachi Ventures, Fifth Wall, and ArcTern Ventures
Other Financing Round (2025): $2M supported by InMotion Ventures
Series C (2026): $75M featuring T. Rowe Price and Canada Growth Fund
Key Investors in Cyclic Materials
Hitachi Ventures
Hitachi Ventures GmbH is a corporate venture firm that partners with ambitious founders to drive world-changing innovations across four core themes: Digital, Industrial, Environment, and Healthcare. With over $1 billion in assets under management, the company blends Hitachi's global power with innovative speed to support visionary entrepreneurs.
Fifth Wall
Fifth Wall is the largest asset manager focused on investments at the intersection of real estate and technology. The company partners with over 110 strategic limited partners, including major real estate owner-operators across more than 20 countries, and has commitments and capital under management totaling $3 billion.
ArcTern Ventures
ArcTern Ventures is a venture capital firm that has been investing in entrepreneurs focused on addressing climate change and sustainability since 2012. The company seeks startups that provide solutions to carbon problems and sustainability issues, leveraging their expertise and global network to accelerate the success of these founders.
What's next for Cyclic Materials?
With the recent major strategic investment and a cumulative total funding of $157M, Cyclic Materials is poised for significant expansion and technological advancement. The company's focus on scaling its innovative recycling processes will likely involve further investment in research and development, as well as the expansion of its operational capacity to meet the increasing global demand for REEs. Strategic partnerships and continued backing from prominent investors in the cleantech and industrial sectors will be crucial for Cyclic Materials as it aims to solidify its position as a leader in sustainable materials supply chains and contribute to a greener future.
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