What is Cyclic Materials?
Founded in 2021 and headquartered in Kingston, Canada, Cyclic Materials is at the forefront of creating a sustainable, domestic supply chain for rare earth elements (REEs) and other vital metals. The company employs an innovative recycling process designed to re-circulate REEs back into the manufacturing pipeline. This approach significantly reduces the environmental impact associated with traditional REE extraction and contributes to a more circular economy, particularly crucial for the ongoing global energy transition. By addressing the critical need for secure and environmentally responsible sourcing of these materials, Cyclic Materials positions itself as a key player in the green technology and advanced materials sectors.
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, Bioindustrial Innovation Canada, Energy Impact Partners, and Planetary Technology
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 Canada Growth Fund and T. Rowe Price
Key Investors in Cyclic Materials
Canada Growth Fund
The Fonds de croissance du Canada (FCC) is a substantial investment fund focused on catalyzing private sector investments in Canadian businesses, with a mandate to support economic growth and emissions reduction through investments in clean technologies and low-carbon supply chains.
T. Rowe Price
T. Rowe Price Group is a global investment management firm that provides services to individuals and institutional investors, managing equity and fixed income mutual funds and investing in public markets worldwide.
Fifth Wall
Fifth Wall is a leading venture capital firm specializing in property technology (proptech), connecting real estate industry leaders with technology entrepreneurs to redefine the future of the physical environment.
What's next for Cyclic Materials?
With the recent influx of $75M in a major strategic investment, Cyclic Materials is poised for significant expansion and operational scaling. This enterprise-level backing, contributing to a total funding of $157M, will likely fuel advancements in their proprietary recycling technology, potentially increasing processing capacity and efficiency. The company's focus on a sustainable supply chain for rare earth elements aligns with global trends towards decarbonization and resource security, suggesting a strategic direction towards solidifying its market position and forging new partnerships within the electric vehicle, renewable energy, and advanced manufacturing industries. Future developments may include expanding their operational footprint and further integrating their recycled materials into high-demand manufacturing processes.
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