Circulor, a sustainable supply chain company for technology, raised $14 million in their first funding round, and will use these funds to develop their platform further, as well as being able to expand into Asia and North America.
The round was led by The Westly Group. Sky Ocean Ventures and BHP Ventures also were involved. Circulor uses business logic technology, machine learning and blockchain to track carbon output and supply chain data in each step of the production process.
The company also assist companies in creating sourcing that is more responsible, as well as improving their overall sustainability.
CEO Douglas Johnson-Poensgen said, “We are on a mission to make the world’s most complex industrial supply chains more transparent. 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.”
Investors in the company include Volvo and Plug and Play.