Circularise secures SAFE investment from SEKISUI CHEMICAL

Circularise secures SAFE investment from SEKISUI CHEMICAL Duncan is an award-winning technology industry analyst, specialising in cloud computing, blockchain, martech and edge computing.

Circularise, a blockchain platform for supply chain transparency and traceability, has formed a Simple Agreement for Future Equity (SAFE) with SEKISUI CHEMICAL, a specialist in the plastics manufacturing industry.

This strategic alliance, which involves an investment in Circularise by SEKISUI CHEMICAL, goes beyond financial support. SEKISUI CHEMICAL will enter a joint project with Circularise in a chemicals traceability project, introducing a digital product passport and testing mass balance traceability software in their supply chain.

Following the successful closure of Series A funding in 2022, the recent SAFE marks another significant milestone for Circularise. With this SAFE SEKISUI joins a lineup of esteemed investors including Brightlands Venture Partners, Asahi Kasei, Neste, 4impact, and others.

Not only does SEKISUI’s SAFE investment guarantee an immediate capital injection for Circularise – it also lays the groundwork for the Series B funding round. The investment will also help Circularise to further expand in the chemicals market.

Jordi de Vos, co-founder of Circularise, said: “Our alliance with SEKISUI CHEMICAL is more than a strategic partnership, it’s a vote of confidence in the circular economy future we’re building together. We’re thrilled to channel these resources into further growth and to amplify our impact on sustainability in the petrochemical world.”

In the face of evolving consumer demands and progressive business practices aimed to drive sustainability, a wave of upcoming regulations is set to significantly impact the petrochemical industry. These include the EU Ecodesign for Sustainable Products, the Corporate Sustainability Reporting Directive (CSRD), and more. Additionally, significant updates are anticipated for numerous existing Extended Producer Responsibility (EPR) directives, with a key focus on enhancing traceability.

The urgency of addressing sustainability challenges is clear. Our success hinges on our collective ability to minimise waste and environmental impact, optimise efficiency, and uphold ethical practices that respect human rights and natural ecosystems. In this context, digital product passports and blockchain technology could play pivotal roles.

A representative from SEKISUI CHEMICAL, said: “SEKISUI CHEMICAL Group aims to realise a circular economy through our business by working with the supply chain, minimising the amount of fossil-derived materials used, and promoting resource recycling. Our investment in Circularise is a strategic move towards embracing digital transformation in our supply chain. By partnering with Circularise, we want to pilot a digital product passport in our operations, marking a significant step in enhancing chemicals traceability and sustainability.”

As Circularise moves forward, these achievements lay a solid foundation for the upcoming Series B round. The company is confident that the momentum gained will drive its continued success and market expansion in the future.

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