Neste, Brightlands Venture Partners, 4 Impact VC and Asahi Kasei have announced a combined €11 million investment in Dutch startup Circularise, which develops digital solutions that improve the traceability and visibility of material flows along supply chains. value.
“There is an urgent need for new, scalable, end-to-end digital solutions to trace renewable and recycled material flows, providing increased transparency along value chains.
“Circularise provides innovative solutions to address this need, and we are excited to help them accelerate the critical transition to circular solutions,” said Lars Peter Lindfors, senior vice president of innovation at Neste.
With its blockchain-based digital product passports, Circularise aims to enable customers to improve resource utilization, verify provenance, conduct carbon footprint and supply chain impact assessments. supply.
This is relevant in complex supply chains such as those for polymers, chemicals, plastics, metals and critical raw materials. Additionally, the company provides a solution for mass balance accounting, hoping to support the shift from fossil raw materials to sustainable alternatives in the plastics and chemicals industry.
Circularise says its solution helps suppliers share sensitive data, such as material composition, environmental footprint or ACL data, without risking privacy and confidentiality. This is achieved through technology, which allows providers to control what data they wish to share.
Circularise co-founder, Jordi de Vos, said: “We are pleased to welcome Neste, Brightlands Venture Partners, 4impact and Asahi Kasei as investors. Our mission has always been clear: to accelerate the transition to a circular economy through traceability and supply chain transparency.
“This funding round allows us to evolve our commercial operations, our products, our R&D as well as to expand our international team. This will not only accelerate our growth as a leading software provider for supply chain traceability, but will also support the transition to a circular economy globally.
The capital injection agreement has been signed and the completion of the investment is subject to customary closing conditions. The investment is complemented by grants from the European Commission.
“Brightlands Venture Partners is thrilled to conduct this Series A with such a strong consortium of VCs and industry players. The Circularise team truly understands the challenge of bringing transparency to the chemical industry’s complex supply chains and has developed a unique portfolio of tools to enable and facilitate this transition.
“We believe that combining the unique skills of the Circularise team with the deep industry expertise of Brightlands Venture Partners will enable Circularise to accelerate supply chain transparency in the chemical industry,” said Mary McCarthy, Partner at Brightlands Venture Partners.