DANVILLE - Textile recycling company Circ has announced it has raised more than US$30 million in a Series B funding round with backing from global apparel companies and virtual capital firms.
The Virginia, US-based startup attracted funding from Zara owner Inditex and US textile manufacturer Milliken & Company, as well as Bill Gates-founded Breakthrough Energy Ventures (BEV) which led the round.
Circ aims to use the investment to scale its revolutionary technology system which it says is unique in the way it can recycle blends of polyester and cotton back into raw materials.
