Sep 25, 03:51 PM

Cyclic Materials Raises $53M in Series B Funding Led by ArcTern Ventures

Cyclic Materials, a Canadian rare earth element recycler, has raised $53 million in a Series B funding round led by ArcTern Ventures. The funding round saw participation from notable investors including BCD Capital Ventures, Hitachi Ventures, Zero Infinity Partners, Climate Investment (CI), and Microsoft's Climate Innovation Fund. BMWi also participated as an investor. This investment will help Cyclic Materials expand its critical materials recycling infrastructure. Additionally, Microsoft has backed the startup in this funding round. The company aims to enhance its recycling capabilities to support the growing demand for rare earth elements in various industries.