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Cyclic Materials

Cyclic Materials

Private
TorontoEnergy & Sustainabilityhttps://cyclicmaterials.earth/

Last Round

Strategic

Aug 27, 2026

Total Funding Raised

$240.6M

Momentum

Top 1%

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 Comparables

Compare Cyclic Materials with similar companies based on industry and business-model similarity.

Cyclic Materials comparables — related companies by embedding similarity
CompanySimilarityMarket Cap
ReElement Technologies Corporation
85%
Carester
81%
REEcycle, Inc.
79%

Cyclic Materials Funding Rounds

Historical fundraising activity

Data table
RoundDateAmount RaisedValuationInvestorsSources
StrategicAug 27, 2026
Series CJan 23, 2026
Series B ExtensionJan 23, 2025
Series BSep 25, 2024
GrantSep 4, 2024
Series A
Apr 25, 2023

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 PriceStrategic, Series C
Fifth WallSeries B, Series A
Energy Impact PartnersSeries B, Series A

Market signals

Structured signals derived from secondary market and firmographic data.

  • Aug 27, 2026

    $75M raised, led by T. Rowe Price.

  • Jul 24, 2026

    Grew 16% QoQ, from 86 to 100 employees.

Cyclic Materials Filings

SEC and related filings with document metadata.

Data table
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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 Range100
Year Founded2021
Last FundingAug 27, 2026

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