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Cyclic Materials

Cyclic Materials

Private
TorontoEnergy & Sustainabilityhttps://cyclicmaterials.earth/

Last Round

Series C

Jan 23, 2026

Total Funding Raised

$165.6M

Momentum

Top 10%

of companies Caplight tracks

Company Overview

Cyclic Materials is a cleantech company that develops proprietary recycling technologies to recover rare earth elements and critical metals from end-of-life products such as electric vehicle motors, wind turbines, and electronics.

Sector

Energy & Sustainability

Verticals

Circular Economy, Advanced Materials, Sustainable Materials, Waste Management

Business Model

B2B

Customer Profile

Hardware Sales, Services & Consulting, Data as a Service

AI Layer

Non-AI

Keywords

rare earth recyclingmagnet recyclingREErare earth elementshydrometallurgyurban miningmaterial recoverycircular supply chaincritical mineralsclosed-loop manufacturingneodymium recoverycleantechgreen miningbattery recyclingdigital product passport

Historical Pricing

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Caplight Momentum Score

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Cyclic Materials Comps

Public and private peers based on sector, stage, and business model.

Cyclic Materials comps — public and private peers by sector, stage, and business model
CompanyStatusEst. ValuationRev Multiple
OpenAIPrivate$86.0B~40x
CoherePrivate$5.0B--
Competitor 1Public$XX.XBXXx
Competitor 2Public$XX.XBXXx

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Cyclic Materials Funding Rounds

Historical fundraising activity

Data table
RoundDateAmount RaisedValuationInvestorsSources
Series CJan 23, 2026
Series B ExtensionJan 23, 2025
Series BSep 25, 2024
GrantSep 4, 2024
Series AApr 25, 2023
Seed
Oct 1, 2021

Key People

Founding team and executive leadership

Ahmad Ghahreman

CEO, President And Co-founder

Founding Team

Alexander Forstner

VP, Engineering And Technology, CTO, Director, Engineering And Technology, Sr. Manager, Strategic Partnerships

Executive Team

Jeff Dawley

CFO

Executive Team

Matt Cherevaty

Chief Operating Officer

Executive Team

Cyclic Materials Investors

Notable investors and investment history

Cyclic Materials investors
InvestorRounds
HV FundSeries B
Climate InvestmentSeries B
Zero Infinity PartnersSeries B
BDC CapitalSeries B
T. Rowe PriceSeries C
Fifth WallSeries B, Series A
Energy Impact PartnersSeries B, Series A

Market signals

Structured signals derived from secondary market and firmographic data.

  • Mar 10, 2026

    Maintains ISO 9001, ISO 14001, and R2v3 certifications.

  • Mar 10, 2026

    Partnerships announced with Solvay, Vattenfall, Lime, and VACUUMSCHMELZE.

Cyclic Materials Filings

SEC and related filings with document metadata.

Data table
TypedDateAmount OfferedAmount SoldFillingPagesDownload
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Cyclic Materials Filings

SEC and related filings with document metadata.

Frequently Asked Questions

Common questions about Cyclic Materials's valuation, stock price, and market status.

Firmographic Details

HeadquartersToronto
Employee Range96
Year Founded2021
Last FundingJan 23, 2026

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