This round of funding was led by Taranis through its Carbon Ventures fund, with existing strategic investors including Inditex, the parent company of Zara, Avery Dennison, and others participating in the round.

Circ states that the basis for this financing is the company's significant technical and commercial progress over the past 18 months. The new funds will help the company expand the scale of its recycling technology applications and continue to move forward towards achieving its goals and missions, turning the waste problem in the fashion industry into circular solutions.

Established in 2011, Circ is headquartered in Danville, Virginia, the former textile production center of the United States. Through patented technology, the company recycles fashion waste into textiles to reduce the demand for raw materials used in clothing production. Circ's technology is capable of breaking down textiles and recycling cotton and polyester fibers, maintaining their integrity while transforming them into new materials.

As one of the few companies capable of recycling polyester-cotton blended materials for reuse in textile production, Circ has successfully collaborated with companies such as Zara, Mara Hoffman, United Arrows, and Christian Siriano. Recycling polyester-cotton blends is currently one of the main challenges faced by the industry, as this type of fabric represents a significant portion, yet less than 1% of it is currently being recycled.

Circ is on track to launch its first industrial-scale blended textile recycling factory, and this financing brings more than just funds. Taranis, a company under the Perenco Group, will also share its expertise in developing and operating large-scale industrial projects. Taranis is an investment and asset management company dedicated to sustainable industrial solutions, and it believes that Circ's model is a key step in reducing the environmental impact of global supply chains. In addition to financial investment, Taranis also directly validates Circ's processes to accelerate the transition from demonstration scale to industrial-scale production.

Circ's CEO Peter Majeranowski said, "Circ's journey to industrialization requires us to build on mature technologies with the engineering, operational expertise, and strategic investment of like-minded partners. Their industrial know-how combined with our innovation enables Circ to accelerate the transition to a circular fashion economy."