Sustainable Supply Chain Technology Company Circulor Closes $14M Funding Round

Sustainable supply chain technology company Circulor closed a $14 million series A funding round and will use the capital to further develop its platform and expand into North America and Asia.

The Westly Group, which focuses on transportation, smart building and energy projects, led the round. Salesforce Ventures, BHP Ventures, 24Haymarket and Sky Ocean Ventures also participated.

Aerospace giant Boeing, Volvo Cars and Land Rover were among earlier investors.

Circulor's platform uses blockchain, machine learning and business logic technologies to track supply chain data and carbon output at each stage of production, recycling and end-of-life. The platform helps companies create more responsible sourcing, analyze supply chain emissions, and improve sustainability.

“We are on a mission to make the world’s most complex industrial supply chains more transparent," said Douglas Johnson-Poensgen, CEO of Circulor, in a press release. "Traceability-as-a-Service is fast becoming a requirement for the world’s leading brands and this funding will help us accelerate our impact and revenue growth."

Read more: Commerzbank Tests Blockchain for Managing Corporate Supply Chains

Existing investors in the company include the venture arms of Boeing, Volvo Cars, Jaguar Land Rover and TotalEnergies, Plug and Play as well as BHP Ventures.

Steve Westly, the Westly Group's founder and managing partner, will join the Circulor board.

​