Circularity Capital

Circularity Capital LLP is a private equity firm based in Edinburgh, United Kingdom, specializing in investments in growth-stage small and medium-sized enterprises (SMEs) within the circular economy. The firm focuses on businesses that emphasize maintenance, repair, refurbishment, remanufacturing, and product-as-a-service models, particularly those leveraging software and technology to enhance asset productivity. Established in 2014, Circularity Capital aims to support its investee companies in decoupling their growth from resource constraints while enhancing resource productivity and gaining a competitive edge. The firm typically invests between £1 million and £5 million and has a strong network and expertise in the circular economy, allowing it to identify and secure unique investment opportunities. Its investor base includes financial institutions, global corporations, and family offices, reflecting its commitment to combining specialized knowledge in the circular economy with quality private equity experience.

Maximilian Bork

Investment Associate

Jenny Boyd

CFO

Anders Brejner

Investment Director

David Currie

General Partner Advisory Committee

Andrew Eadie

Senior Investment Associate

Nicola Keen

Operating Principal

Sonia Medina

General Partner and Advisory Committee Member

David Mowat

Partner and Investment Committee Member

Ian Nolan

Partner and Chairman of Investment Committee

Andrew Shannon

Partner and Investments Committee Member

Arjune Shukla

Senior Investment Associate

Deanna Zhang

Investment Director

13 past transactions

Bike Club

Series B in 2022
Bike Club is a service that provides a subscription model for children's bicycles, allowing parents to rent bikes that are appropriately sized for their growing children. The platform emphasizes the importance of children learning to ride on the right-sized bicycles to enhance their cycling experience. It offers a range of bike types, including balance bikes, hybrid/off-road bikes, road bikes, BMX, and mountain bikes, which can be exchanged as children outgrow them. This hire-exchange solution is designed to ensure that children have access to safe and suitable bicycles throughout their development, promoting both the acquisition of cycling skills and a love for biking.

rebike1 GmbH

Venture Round in 2022
rebike1 GmbH, established in 2018 and located in Krailling, Germany, operates a platform for buying and selling used electric bikes (e-bikes). The company sources new e-bikes from prominent manufacturers such as Winora/Haibike, Husqvarna, Flyer, KTM, and Orbea, which are rented to businesses and consumers before being refurbished and sold with a two-year warranty. Additionally, rebike1 acquires used e-bikes from rental stations and retailers, refurbishes them, and markets them to consumers. In Oberstdorf, a popular tourist destination near Munich, rebike1 manages the largest e-bike rental station in the region. The company, which employs 18 people, is expanding its rental services under the brand ebike1verleih in collaboration with local bike shops in various tourist areas.

Cocogreen

Private Equity Round in 2022
Cocogreen (UK) Ltd develops, manufactures, and supplies specialty ready-to-use coir substrates for edible crops. It offers substrates for strawberry, blueberry, and raspberry; tomato, pepper, and eggplant; and citrus product crops. The company was incorporated in 2010 and is based in Manchester, United Kingdom.

P2i

Private Equity Round in 2021
P2i Limited specializes in liquid repellent nano-coating technology, providing innovative solutions that enhance the performance of various products without altering their appearance or texture. Founded in 2003 and based in Abingdon, United Kingdom, P2i utilizes a unique pulsed plasma deposition process to create hydrophobic coatings that reduce the surface energy of materials, allowing liquids to bead up and roll off. This technology is applicable to a wide range of sectors, including electronics, textiles, lifestyle products, life sciences, filtration, energy, and military applications. P2i operates internationally, with facilities in the United States and Singapore, as well as application centers in China, serving customers looking to protect their products from water and other liquids.

Grover

Series B in 2021
Grover Group GmbH is a Berlin-based company that operates an online platform allowing customers to rent consumer electronic products through a monthly subscription model. Founded in 2015, Grover offers a diverse range of over 1,500 products across various categories, including smartphones, laptops, wearables, cameras, gaming equipment, home entertainment systems, and smart home devices. This approach enables both private customers and businesses to access the latest technology without the financial burden of ownership, promoting flexibility and convenience in the consumer electronics market. With additional offices in Austria and the Netherlands, Grover is committed to enhancing the access economy by providing a simple and efficient rental service.

Grover

Series B in 2021
Grover Group GmbH is a Berlin-based company that operates an online platform allowing customers to rent consumer electronic products through a monthly subscription model. Founded in 2015, Grover offers a diverse range of over 1,500 products across various categories, including smartphones, laptops, wearables, cameras, gaming equipment, home entertainment systems, and smart home devices. This approach enables both private customers and businesses to access the latest technology without the financial burden of ownership, promoting flexibility and convenience in the consumer electronics market. With additional offices in Austria and the Netherlands, Grover is committed to enhancing the access economy by providing a simple and efficient rental service.

PackBenefit

Private Equity Round in 2021
Designer and manufacturer of recyclable and compostable cellulose trays intended for commercial catering, fresh food and food-to-go end market. The company offers a range of products, including trays, films, and sealers that are produced via its patented thermoforming-coating production process and specializes in ecological packaging, enabling clients to get real alternatives to plastic packages.

Shark Solutions

Venture Round in 2020
Shark Solutions ApS, based in Roskilde, Denmark, specializes in the development and sale of recycling solutions for various types of glass, including flat, safety, and building glass, as well as windshields. Founded in 2005, the company operates PVB recycling factories in Europe and is expanding to the United States. It recycles post-consumer laminated PVB (PolyVinyl Butyral) from industrial waste, producing PVB for applications across multiple industries. Shark Solutions also provides mobile glass separation systems designed for efficient recycling of windshields and laminated glass. In addition to glass recycling, the company is exploring technology applications in gypsum board and solar panel recycling. Shark Solutions markets its products through a network of dealers and professional partners, positioning itself as a leader in the cleantech sector.

Winnow

Series B in 2019
Winnow Solutions Ltd. is a London-based company that specializes in developing artificial intelligence tools aimed at reducing food waste in the food service industry, including restaurants and commercial kitchens. Incorporated in 2013, the company offers a platform that automatically measures and analyzes food waste using smart scale technology integrated into waste bins. This system provides chefs with valuable data to enhance kitchen production processes, ultimately helping to cut food waste in half and promote more sustainable practices. By connecting commercial kitchens and fostering a community of chefs, Winnow aims to inspire a broader movement towards minimizing environmental impact and improving operational efficiency in the culinary sector.

Grover

Series A in 2019
Grover Group GmbH is a Berlin-based company that operates an online platform allowing customers to rent consumer electronic products through a monthly subscription model. Founded in 2015, Grover offers a diverse range of over 1,500 products across various categories, including smartphones, laptops, wearables, cameras, gaming equipment, home entertainment systems, and smart home devices. This approach enables both private customers and businesses to access the latest technology without the financial burden of ownership, promoting flexibility and convenience in the consumer electronics market. With additional offices in Austria and the Netherlands, Grover is committed to enhancing the access economy by providing a simple and efficient rental service.

ZigZag Global

Series A in 2019
ZigZag Global Ltd is a software platform designed to assist e-commerce retailers in managing product returns efficiently. Founded in 2014 and based in London, the company provides a comprehensive returns portal that grades returned items and facilitates their consolidation, refurbishment, local redistribution, recycling, destruction, and resale internationally. ZigZag's extensive network includes over 200 local warehouses in 130 countries, enabling quicker refunds and streamlined returns processes. Customers can initiate returns in under a minute and choose from over 300,000 locations for tracked returns via post, locker, or courier. The platform allows for rapid refunds, often within 24 hours, and offers various services such as order label management, tracking, and paperless returns technology. ZigZag has received multiple awards for innovation and sustainability, highlighting its commitment to improving the returns experience for both retailers and consumers.

Grover

Series A in 2018
Grover Group GmbH is a Berlin-based company that operates an online platform allowing customers to rent consumer electronic products through a monthly subscription model. Founded in 2015, Grover offers a diverse range of over 1,500 products across various categories, including smartphones, laptops, wearables, cameras, gaming equipment, home entertainment systems, and smart home devices. This approach enables both private customers and businesses to access the latest technology without the financial burden of ownership, promoting flexibility and convenience in the consumer electronics market. With additional offices in Austria and the Netherlands, Grover is committed to enhancing the access economy by providing a simple and efficient rental service.

Winnow

Series A in 2017
Winnow Solutions Ltd. is a London-based company that specializes in developing artificial intelligence tools aimed at reducing food waste in the food service industry, including restaurants and commercial kitchens. Incorporated in 2013, the company offers a platform that automatically measures and analyzes food waste using smart scale technology integrated into waste bins. This system provides chefs with valuable data to enhance kitchen production processes, ultimately helping to cut food waste in half and promote more sustainable practices. By connecting commercial kitchens and fostering a community of chefs, Winnow aims to inspire a broader movement towards minimizing environmental impact and improving operational efficiency in the culinary sector.
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