Cyclic Materials Raises $71 Million CAD with Support from Microsoft and Leading Climate Investors
Funding Commitment to Sustainable Solutions
Toronto-based Cyclic Materials has recently secured $71 million CAD in Series B financing, with participation from major players such as Microsoft, BDC Capital, Hitachi Ventures, and others. The funds will facilitate the expansion of their rare earth recycling infrastructure beyond Canadian borders, specifically targeting the US and European markets.
Investors and Their Roles
- Cyclic Materials: Focuses on sustainable rare earth recycling.
- Microsoft: A key corporate investor supporting cleantech initiatives.
- Fifth Wall, BMW i Ventures, Energy Impact Partners: Additional investors backing climate tech innovations.
Climate Investments Driving Growth
The growing interest in cleantech signifies a shift towards sustainable technological solutions. Cyclic's innovative approach to rare earth recycling aligns well with global sustainability goals, making them an attractive option for investment.
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