🧵 Stylishly Sustainable: Startup Circ Attracts $30 Mn From Zara Owner, Bill Gates
Textile recycling has made its buzz into the fashion world.
And why not?
Gigantic piles of garments lay in landfills across the world.
It doesn’t have to be that way anymore.
The Virginia-based startup Circ is on a mission to recycle fashion waste back into textiles, over and over again.
The company recycles cotton, polyester, and cotton-poly blends and returns clothes to the raw materials from which they were made.
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Agreeing with Circ’s vision are Zara owner Inditex and US textile manufacturer Milliken & Company, as well as Bill Gates-founded Breakthrough Energy Ventures (BEV).
The startup raised more than $30 million in a Series B funding round with backing from these global apparel companies and virtual capital firms.
Notably, this is Zara’s first investment in a clean technology start-up.
“We already have all the clothing we need to make all the clothing we’ll ever need. Now, alongside our partners, we can make recycled garments accessible to every shopper,” Circ CEO Peter Majeranowski mentioned.
The investment will be aimed at scaling the revolutionary technology system.
It has also secured suppliers, purchasers, and major financial stakeholders to establish a much cleaner fashion future.
Funding will also be used to grow its core team members throughout the business.
Circ isn’t the first and only one working on recycling garments.
Others in the game are Infinited Fiber, which raised $36 million in 2021 for cellulose-fiber recycling, and Ambercycle, which raised $21.6 million in January for polyester recycling.
Too long? Here’s a one-liner: Virginia-based garment recycling startup Circ bags $30 Mn funding in Series B led by Bill Gates-founded Breakthrough Energy and others.
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