The company, whose technology powers patented textile recycling processes, plans to use the funding to grow its team, scale its solution for commercial use, and further its mission of reducing apparel waste.
Some other firms that backed the funding round include American textile group Milliken & Company and investment firm Lansdowne Partners, FashionUnited reported.
“With this investment round, we’ve secured suppliers, purchasers, and major financial stakeholders to establish a much cleaner fashion future,” said Circ CEO Peter Majeranowski.
“We already have all the clothing we need to make all the clothing we’ll ever need. Now, alongside our partners, we can make recycled garments accessible to every shopper.”
The company’s technology works by turning old clothes, specifically those made from cotton and polyester, into raw materials.