Cyclic Materials Secures $2 Million from InMotion Ventures, Raising Series B Total to $55 MillionCyclic Materials Secures $2 Million from InMotion Ventures, Raising Series B Total to $55 Million

TORONTO – Cyclic Materials, the advanced recycling company building a circular supply chain for Rare Earth Elements and other critical materials, today announced a $2 million investment from InMotion Ventures, the investment arm of Jaguar Land Rover (JLR). This latest backing lifts the company’s Series B round to $55 million, underscoring its critical role in advancing sustainable supply chains for the automotive industry and beyond.

Rare Earths Elements (REEs) are an essential component in permanent magnets, which are found in everything from data centers and wind turbines to cell phones, electric vehicles, and power tools. Despite their significance, less than 1% of REEs are currently recycled, while the global demand already exceeds supply and is projected to grow threefold by 2030. Cyclic Materials’ proprietary MagCycle℠ and REEPure℠ technologies address this demand by recycling REEs from a wide range end-of-life products, establishing a circular supply chain for recycled Mixed Rare Earth Oxides (rMREOs).

This investment aligns with InMotion Ventures’ commitment to the circular economy. The fund has invested in a range of technologies across the global value chain, including supply chain traceability, battery repair, re-use and recycling and now, rare earth magnets recycling.

“We are thrilled to welcome InMotion Ventures as a key investor, extending our Series B with an additional $2 million,” said Ahmad Ghahreman, CEO of Cyclic Materials. “Their investment highlights the surging importance of sustainable solutions in the automotive industry. We are honored to have one of the UK’s most active corporate funds as partners as we deploy our rare earth recycling infrastructure across North America and Europe.”

"Cyclic Materials is leading the way in creating a sustainable supply chain for rare earth elements and critical materials” added Mike Smeed, Managing Director at InMotion Ventures. “Their innovative technologies address a vital need for rare earth magnets recycling, supporting the automotive industry's transition toward a cleaner and more resilient future."

With this investment, Cyclic Materials will accelerate the expansion of its operations across North America and Europe, enhance processing capabilities, and refine its cutting-edge recycling technologies.

This Series B extension builds on Cyclic Materials’ earlier $53 million round, backed by global industry leaders like Microsoft, Hitachi, BMWi and specialized funds ArcTern and Fifth Wall. Together, these investments position Cyclic Materials as a key partner for companies seeking sustainable and circular supply chain solutions.