Circular.co announces the public launch of its full-service digital platform that it says introduces a new way to buy and sell sustainable commodities at scale, starting with a focus on recycled plastics.
Circular.co says the platform will help essential industries evolve to a more sustainable future by offering efficient online trading, accessible data, and transparent economics.
The platform says the digital infrastructure tools simplify supply chain logistics by doing all the sourcing, vetting, matching, contracting, shipping, and billing for its customers.
Circular’s founder and CEO, Ian Arthurs, said: “Circular’s [.co] focus is on the big economic and environmental picture behind helping brands and major manufacturers access the materials they need to meet sustainability goals.
“There is more than enough material out there to meet demand, but the industry has lacked the infrastructure and economic transparency to support greater recovery and circularity.”
Over 380 million tonnes of virgin plastic are produced each year and global recycling rates remain under 9%, Circular.co says.
Circular.co says its leadership team is uniquely positioned to deliver on their objectives as they have decades of technology platform experience from the likes of Google, Airbnb, TaskRabbit, Bloomberg, Snap, and Medium.
Rounding out the team, Circular.co secured as its lead investor Eclipse Ventures, a venture capital firm that says it helps entrepreneurs build exceptional companies that make physical industries more efficient, resilient, and profitable.
Circular.co and Eclipse say they have been conducting research and development, and testing the digital platform among buyers and sellers for the past year.