What is Cyclic Materials?
Cyclic Materials operates at the intersection of environmental sustainability and industrial supply chain security. The company specializes in the recovery of rare earth elements and critical materials from end-of-life products, utilizing proprietary separation, refining, and metallization technologies. By converting recovered feedstock into high-purity oxides and metals, the firm provides a vital service to sectors including automotive, electronics, energy infrastructure, and defense. This circular approach not only mitigates the environmental impact of traditional mining but also strengthens domestic supply chains against global volatility, positioning the company as a cornerstone of the modern industrial ecosystem.
How much funding has Cyclic Materials raised?
Cyclic Materials has raised a total of $232M across 5 funding rounds:
Series A
$27M
Series B
$53M
Other Financing Round
$2M
Series C
$75M
Other Financing Round
$75M
Series A (2023): $27M with participation from Bioindustrial Innovation Canada, Energy Impact Partners, Planetary Technology, Fifth Wall, and BMW
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
Other Financing Round (2026): $75M backed by T. Rowe Price and ERI
Key Investors in Cyclic Materials
T. Rowe Price
A global asset management organization providing investment solutions through independent research and fundamental analysis to support long-term growth.
Canada Growth Fund
An independent investment fund focused on catalyzing private sector capital to support clean technologies and low-carbon supply chains.
Fifth Wall
A prominent venture capital firm specializing in the intersection of real estate and technology, managing significant capital to future-proof the built environment.
What's next for Cyclic Materials?
With the recent infusion of $75M, Cyclic Materials is well-positioned to accelerate its industrial footprint and refine its metallization processes. The strategic focus will likely shift toward expanding capacity to meet the surging demand for recycled rare earth materials, particularly as automotive and energy sectors prioritize decarbonized supply chains. By leveraging its network of strategic investors—ranging from global asset managers to specialized climate-tech venture firms—the company is poised to scale its operations, enhance process efficiency, and solidify its role as a leader in the global transition toward a circular economy. Future milestones will likely involve deeper integration into the manufacturing pipelines of its strategic partners, ensuring that recovered materials are seamlessly reintroduced into high-value industrial applications.
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