Circular

The company addresses the fragmented, opaque, and analog nature of the PCR market, which creates difficulties for buyers regarding price, quality, and availability. Circular.co has developed a technology platform featuring what it claims is the world's largest database of PCR materials, with over 50,000 technical records from more than 9,000 global suppliers. The platform serves brands and manufacturers across sectors like consumer packaged goods, automotive, electronics, and durable goods. Its business model simplifies the procurement process for these clients by offering a suite of digital tools. Revenue is generated by facilitating transactions and managing the supply chain, including sourcing, vetting, matching, contracting, and logistics.

The platform's features are designed to create liquidity and transparency. The 'Explore' tool allows users to self-serve and research available PCR materials based on specific technical requirements and pricing worldwide. Through the 'Source' feature, buyers can issue digital requests for quotes (RFQs) to a curated list of suppliers and monitor responses in real time. The 'Procure' and 'Manage' functions provide project management and quality assurance tools to streamline testing, onboarding, and logistics, while also de-risking supply chain inconsistencies. The company uses artificial intelligence to codify technical data, including material specifications, pricing, volume, and supplier certifications. In the fourth quarter of 2023, Circular.co sourced 35,000 tons of PCR material, representing a gross merchandise value of $43 million, and reported saving customers an average of over 10% compared to market prices. The company has raised a total of $10.5 million in funding to expand its team, enhance platform functionality, and extend its services to other sustainable materials beyond plastics, such as paper and metals.