Asahi Kasei, Neste back blockchain sustainability startup Circularise $11m funding
2022/11/17 11:28
According to LedgerInsights, Dutch blockchain sustainability startup Circularise announced an €11 million ($11m) funding round led by Brightlands Venture Partners in addition to Asahi Kasei, Neste, and existing investor 4impact Capital. In 2020 the company secured €1.5 million in funding from the European Commission under the EU Horizon 2020 program.
Circularise already has numerous projects with big-name clients, including Asahi Kasei, Covestro, Domo Chemicals, Marubeni, Mitsubishi Chemicals, Neste, Philips Domestic Appliances and Porsche.
The startup uses blockchain for its two supply chain solutions. One is for product passports that provide provenance and carbon footprint assessments across supply chains. This uses the company’s Smart Questioning technology based on Zero Knowledge Proofs to allow communication without sharing data, identity, or position in the supply chain. For example, it’s possible to ask about the carbon footprint of an item without disclosing all the suppliers in the chain.
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