Circulor, a British B2B carbon intelligence startup, raised USD 14 million in a Series A funding round led by The Westly Group, with participation from Salesforce Ventures, BHP Ventures, Sky Ocean Ventures, Future Positive Capital, and 24Haymarket. 

Circulor will use the investment to drive ongoing innovation and extend its presence in North America and Asia. In July and December 2020 and March 2021, Circulor raised undisclosed amounts from InMotion Ventures, Volvo, Total Carbon Neutrality Ventures, SYSTEMIQ, and Plug and Play.

Founded in 2017, Circulor provides a blockchain-based SaaS solution for businesses to trace the sustainability of their raw materials across the supply chain. Circulor collects information on material flows and verifies that they follow the rules pre-defined by businesses. These may include information such as elapsed time, mass balance calculations, responsible sourcing standards, or energy use. After collecting and verifying the information, Circulor records the findings on a distributed ledger, which can then be accessed by any party with permission. The company has onboarded several high-profile customers, including automakers Mercedes and Volvo, which use Circulor to trace the sustainability of their electric vehicle battery materials.