Circulor raised $25m in Series B funding led by Westly Group.

Circulor, a London, UK-based-based provider of supply chain traceability and dynamic CO2 tracking, raised $25 million series B round of equity financing.

The money was raised from investors led by The Westly Group, joined by multiple others including HG Ventures, Salesforce Ventures, Volvo Cars Technology Fund, SYSTEMIQ,  Jaguar Land Rover's CVC arm, InMotion Ventures, BHP Ventures, Future Positive Capital and 24Haymarket.

Circulor, founded in 2017 by CEO Douglas Johnson-Poensgen and Veera Johnson, developed an enterprise software platform that uses a combination of technologies, including blockchain, business logic and machine learning. The technology assigns a digital identity to commodities and tracks the supply chain data and embedded carbon at each stage of production, recycling and end-of-life. This provides full visibility across traditionally opaque and complex supply chains, helping companies address ESG objectives.

Customers include TotalEnergies, Volvo Cars, Polestar, BHP, and LG Energy Solutions, which use Circulor in order to track and manage their supply chains, support responsible sourcing, analyse supply chain emissions, and improve sustainability. Customers are supported by employees located in offices in Singapore, Germany, London and the US

Circulor previously raised $14 million in Series A funding led by The Westly Group in 2021, and prior to that announced a funding round from InMotion Ventures (Jaguar Land Rover) and another one from Volvo.