Jaguar Land Rover’s investment arm supports circular economy efforts for critical raw materials.
The Canadian rare earth recycler Cyclic Materials has secured another significant financial boost. InMotion Ventures, the investment arm of automaker Jaguar Land Rover, will invest $2 million into the startup, according to a Communiqué de presse. This contribution raises Cyclic’s Series B funding round—designed to support growth and expansion—to $55 million.
With this funding, Cyclic plans to accelerate the launch of its first commercial facilities in the United States and Europe. The company specializes in extracting rare earth elements from end-of-life products such as consumer electronics, EV drive motors, and medical devices. Currently, less than 1% of these critical materials are recycled, despite increasing demand and efforts by many countries to reduce reliance on imports from China, the dominant global supplier.
To support the diversification of supply chains, Cyclic collaborates with other Western players, including Solvay’s rare earth facility in France and Métaux rares Ucore in Canada. The startup’s existing investors include major corporations such as Microsoft, Hitachi, and BMW (nous avons rapporté). Cyclic has also received funding from the Canadian government.
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