HG Ventures, the corporate venture arm of The Heritage Group, has announced its participation in a US$25 million Series B raise for Circulor, the only proven technology solution that tracks materials, emissions, and compliance within manufacturing and recycling supply chains. Circulor’s suite of technologies gives users data-driven insights into their business to enable responsible sourcing. Through blockchain and artificial intelligence (AI) software as a service (SaaS) technology, Circulor’s platform advances traceability, transparency, and risk management solutions.
“Circulor is helping companies track emissions and prove the sources of their raw materials, which enables decarbonisation and mitigates supply chain risks,” said John Glushik, Managing Director at HG Ventures. “HG Ventures is excited to support Circulor’s team in their mission to develop complete industrial supply chain traceability and resiliency.”
Manufacturers in the automotive, extractive, recycling, and construction industries are looking for solutions to track the sources of their materials and decarbonise their operations. Leaders in these industries are seeking a supply chain that is traceable, ethical, and sustainable. Circulor enables them to be transparent about the source of their raw materials, increase the use of recycled plastic, reduce the flow of plastics into oceans, cut greenhouse gas emissions, and decarbonise their materials.
“We’re thrilled to partner with HG Ventures to advance secure and responsible supply chains,” added Douglas Johnson-Poensgen, Circulor CEO. “Digital transparency allows companies to track their material use and be more ethical and informed, and we’re proud to be working with such an experienced partner as we grow.”