What is SOLARCYCLE?
SOLARCYCLE, Inc. is a technology-driven platform established in 2022, dedicated to maximizing solar sustainability. The company offers a comprehensive, low-cost, and eco-friendly process for recycling retiring solar panels and technologies, repurposing them for new applications. Founded by experts in solar technology, recycling, and sustainability, SOLARCYCLE aims to accelerate the build-out of a circular economy for solar and renewable energy sources. The company's innovative approach addresses the growing need for responsible end-of-life management of solar assets, contributing to a more sustainable energy future.
How much funding has SOLARCYCLE raised?
SOLARCYCLE has raised a total of $38.1M across 3 funding rounds:
Angel/Seed
$6.6M
Series A
$30M
Grant
$1.5M
Angel/Seed (2022): $6.6M with participation from Tom Dinwoodie, Urban Innovation Fund, Closed Loop Partners, and Peter and Lyndon Rive
Series A (2023): $30M led by Fifth Wall, Prolog Ventures, and HG Ventures
Grant (2023): $1.5M supported by U.S. Department of Energy
Key Investors in SOLARCYCLE
Urban Innovation Fund
Urban Innovation Fund is a venture capital fund that invests in early-stage startups addressing significant urban challenges. The fund provides seed capital, hands-on support, and regulatory expertise to companies in sectors such as energy, transportation, and fintech. Their investment strategy focuses on critical areas including transportation, sustainability, and economic vitality, with a commitment to enhancing urban outcomes. Each year, they publish a report highlighting the positive impacts of their portfolio companies on urban issues.
Closed Loop Partners
Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance, and an innovation center focused on building the circular economy. Investors include many of the world's largest consumer goods companies and family offices interested in investments that provide strong financial returns and tangible impact.
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry (property technology or "proptech"). With $1 billion capital under management across three funds, Fifth Wall connects the world's largest owners and operators of real estate with the technology entrepreneurs who are redefining the future of the physical environment. Fifth Wall is backed by a global mix of strategic limited partners (LPs), including British Land, CBRE, Cushman & Wakefield, D.R. Horton, Equity Residential, Gecina, GLP, Hines, Host Hotels & Resorts, Hudson Pacific Properties, Lennar, Lowe's Home Improvement, Macerich, Marriott International, MERLIN Properties, MetLife Investment Management, Mitsubishi Estate, News Corp, Prologis, PulteGroup, SEGRO, Starwood Capital, Related Companies, Toll Brothers and others. These LPs represent the largest potential customers and partners for the global Built World ecosystem, resulting in game-changing investments and partnerships in the most promising portfolio companies in retail, residential and multi-family, commercial, industrial, hospitality, and more. The company was founded in 2016.
What's next for SOLARCYCLE?
With its recent major strategic investment and substantial total funding, SOLARCYCLE is well-positioned for significant scaling and expansion. The company's focus on the circular economy for solar energy aligns with global sustainability initiatives and increasing regulatory pressures for responsible waste management. Future growth is likely to involve expanding recycling infrastructure, forging new partnerships with solar asset owners and manufacturers, and further developing repurposing technologies. This strategic financing will enable SOLARCYCLE to solidify its market leadership and drive innovation in sustainable solar asset management.
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