CircularPlace announces a €1.4M fund-raising round.
CircularPlace raises €1.4 million to accelerate businesses’ transition to the circular economy
The circular economy, an economic model aimed at maximising the use of resources and reducing waste, is gaining ground in the business world. Among the emerging players in this fast-growing sector, the French start-up CircularPlace is positioning itself as a key facilitator to support businesses in this transition.
A modular platform to manage the product lifecycle
Founded in 2021 by Vincent Rigal and Maxime Scholz, CircularPlace has developed a modular digital platform enabling businesses to manage, reuse and add value to their products, equipment and resources in a circular way. The aim is to maximise their use and extend their lifespan.
The proposed solution offers several options for ensuring the second life of products:
– Pooling and re-use within a group and between different sites, to limit the purchase of new equipment and optimise the use of existing assets.
– Distribution and second-hand sales to other companies involved in reconditioning or destocking, generating additional income.
– Donations to associations in the social economy, enabling you to support causes while making tax savings.
A favourable regulatory framework
The CircularPlace solution is part of a regulatory context that is increasingly favourable to the circular economy. The 2020 AGEC law now prohibits companies from disposing of their unsold non-food products without first trying to donate them to associations.
In addition, since January 2024, large companies in the European Union have been required to publish a sustainability report (CSRD) including their carbon footprint. The carbon impact calculator offered by CircularPlace provides useful data for this reporting, particularly for Scope 3 relating to indirect emissions.
Growing adoption by large companies
Adaptable to all business sectors and product types, the CircularPlace platform has already won over major players such as Sodexo, Microsoft, Société Générale and Schneider Electric. These companies have chosen to focus on re-use and the circular economy to manage their unsold goods, returns and second-hand equipment.
Having launched its SaaS solution in July 2023 and ended the year with sales of €105,000, CircularPlace now aims to accelerate its growth and roll-out across Europe.
1.4 million to expand internationally
It is with this in mind that CircularPlace is announcing, on the occasion of the Viva Technology 2024, a first round of financing totalling 1.4 million. This sum, broken down into equity from business angels and family offices (Aticco Ventures and LGH) and debt with BPIfrance, Wilco and Réseau Entreprendre Paris, will enable CircularPlace to strengthen its teams and accelerate its commercial development in Europe.
With the global circular economy market estimated to be worth €4,500 billion by 2030 according to the World Economic Forum, and increasingly demanding regulations in Europe, North America and elsewhere, CircularPlace seems well positioned to take advantage of this growth opportunity.
A collaborative approach for a sustainable circular economy
In addition to its technological platform, CircularPlace advocates a collaborative approach involving all stakeholders to ensure a sustainable transition to the circular economy.
This collaborative vision is reflected in partnerships with local associations to facilitate the donation of products and equipment, as well as CircularPlace’s involvement in sector initiatives to promote best practice in the circular economy.
With this new round of funding and its collaborative approach, CircularPlace is positioning itself as a key player in supporting companies in their transition to a more sustainable and environmentally-friendly business model. It’s an ambitious mission, but one that is essential if we are to meet the environmental and societal challenges we face.
