Supercircle, a pioneering force in circularity and fashion waste, has successfully secured 7 million dollars in a pre-Series A financing round. The company's innovative textile and footwear recycling platform manages reverse logistics and waste disposal for various fashion and home textile brands. This encompasses a wide spectrum, including post-consumer clothing, shoes, bedding, and other surplus items such as excess inventory, damages, and samples, according to co-founder Chloe Songer as reported by Sourcing Journal.
The newly acquired funds will be strategically deployed to enhance logistics infrastructure, expedite collaborations with brand partners, and facilitate key hires across the organization. Supercircle aims to fortify its position as a crucial link connecting consumers, retailers, logistics providers, and recyclers, orchestrating a comprehensive end-to-end process. Kathy Chen, a partner at Ulu Ventures, one of the financiers of the round, expressed confidence in Supercircle's potential to translate circularity into a tangible reality, citing substantial support from the retail industry.
The roots of Supercircle trace back to Thousand Fell, a circular sneaker brand inaugurated in 2019. Focused on sustainability, Thousand Fell established a closed-loop system where customers return sneakers for recycling, receiving a discount on their subsequent purchase. Evolving from this direct-to-consumer model, Thousand Fell introduced Supercircle—a technological platform and reverse logistics system. This platform serves as a crucial bridge connecting retail with the waste management sector, effectively closing the loop and addressing post-consumer clothing waste. Supercircle's user-friendly approach streamlines integration and customer adoption, empowering brands to institute their recycling take-back programs.
As the casual footwear market in the United States continues to burgeon, currently valued at 20 billion dollars, and with 62 percent of Gen Z consumers expressing a preference for sustainable brands, Supercircle's platform presents a significant opportunity for major brands and retailers to reimagine their sustainability strategies.