When was Cyclic Materials founded?

Cyclic Materials was founded in 2021 and raised its 1st funding round 2 years after it was founded.

Where is Cyclic Materials located?

Cyclic Materials is headquartered in Toronto, Canada.

Who is the current CEO of Cyclic Materials?

Ahmad Ghahreman of Cyclic Materials. They have also founded 1 company.

How many employees does Cyclic Materials have?

As of May 31, 2026, the latest employee count at Cyclic Materials is 92.

Is Cyclic Materials a funded company?

Cyclic Materials is a funded company, having raised a total of $82M across 6 funding rounds to date. The company's 1st funding round was a $***** Conventional Debt round, raised on Feb 24, 2023.

When was the latest funding round of Cyclic Materials?

Cyclic Materials' latest funding was a $***** Series B round on Jan 23, 2025, with participation from 1 investor. Its primary sector is Solid Waste Management Tech. In Canada, the Solid Waste Management Tech sector has seen $87.8M in funding in 2026 to date.

Where does Cyclic Materials rank among its competitors?

Cyclic Materials ranks 1st amongst 8 active competitors, of which 3 are funded. It stands 1st in terms of total funding among its competitors. The most recent competitor to raise funding was Geomega Ressources, which secured $1.95M in Nov, 2025.

Who are the top competitors of Cyclic Materials?

Cyclic Materials' top competitors include Geomega Ressources, Emulsion Flow Technologies and REEgen. Among them, Geomega Ressources secured the most recent funding round in November, 2025.

Cyclic Materials - 2026 Company Profile, Team, Funding & Competitors

Cyclic Materials is a series B company based in Toronto (Canada), founded in 2021 by Patrick William Nee and Ahmad Ghahreman. It operates as a Recycling of rare earth elements. Cyclic Materials has raised $82M in funding from investors like Microsoft, ArcTern Ventures and Energy Impact Partners. The company has 8 active competitors, including 3 funded and 1 that has exited. Its top competitors include companies like Geomega Ressources, Emulsion Flow Technologies and REEgen.

Company Details

Recycling of rare earth elements. It provides solutions for recycling of magnet-containing products made from critical minerals, enabling the creation of a domestic supply chain for REEs through an economic and sustainable magnet recycling process.

Key Metrics

Founded Year

2021

Location

Toronto, Canada

Stage

Series B

Total Funding

$82M in 6 rounds

Latest Funding Round

Series B, Jan 23, 2025, $*****

Investors

Microsoft & 13 more

Ranked

1^st among 8 active competitors

Employee Count

92 as on May 31, 2026

Similar Companies

Geomega Ressources & 6 more

View Cyclic Materials' full profile

Cyclic Materials has raised a total funding of $82M over 6 rounds. Its first funding round was on Feb 24, 2023. Its latest funding round was a Series B round on Jan 23, 2025 for $*****. 1 investor participated in its latest round. Cyclic Materials has 14 institutional investors.

Here is the list of recent funding rounds of Cyclic Materials:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 23, 2025	1696197	Series B	2365454	2127206	8049334	7331929
Sep 25, 2024	8325090	Series B	3726474	6214189	9738456	BDC & 8 more
Sep 04, 2024	8859048	Grant (prize money)	1818482	8444138	4361917	Natural Resources Canada

Access funding benchmarks and valuations. Sign up today!

View details of Cyclic Materials's funding rounds and investors

The founders of Cyclic Materials are Patrick William Nee and Ahmad Ghahreman. Ahmad Ghahreman is the CEO of Cyclic Materials.

Here are the details of Cyclic Materials' key team members:

Patrick William Nee: Co-Founder of Cyclic Materials.
Contact Info: 1 email address
Ahmad Ghahreman: Co-Founder & CEO of Cyclic Materials.
Contact Info: 1 email address

View details of Cyclic Materials's Founder profiles and Board Members

Cyclic Materials' employee count trend

Cyclic Materials has 92 employees as of May 26. Here is Cyclic Materials's employee count trend over the years:

Employee count trend for Cyclic Materials

Uncover Cyclic Materials' growth story! Sign up today!

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

Top competitors of Cyclic Materials include Geomega Ressources, Emulsion Flow Technologies and REEgen. Here is the list of Top 10 competitors of Cyclic Materials, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Cyclic Materials 2021, Toronto (Canada), Series B	Recycling of rare earth elements	$82M	BMW i Ventures, Fifth Wall & 12 others	63/100
2nd	Geomega Ressources 2009, Boucherville (Canada), Public	Provides sustainable rare earth's recycling solutions	-	Iavaleursmobilieres, Marquest & 5 others	47/100
3rd	Emulsion Flow Technologies 2021, Naka (Japan), Series A	Rare metal recycling solutions	$3.15M	Honda Innovations, Real Tech Fund Investment ... & 7 others	36/100
4th	REEgen 2022, Ithaca (United States), Funding Raised	Provider of biological solutions for rare earth element recovery and purification	-	National Science Foundation	32/100
5th	REEcycle 2012, Houston (United States), Funding Raised	Recycling rare earth elements from electronic waste for a sustainable future	-	Military Health, National Science Foundation	31/100
6th	Rivalia Chemical 2022, New York City (United States), Seed	Developer of processes for recovering rare earth elements from industrial waste materials	$20K	Techstars, Village Capital & 1 others	30/100
7th	9-Tech 2020, Venice (Italy), Unfunded	Recovery of rare earths and high-value metals from electronic waste	-	-	27/100
8th	SharpPulse 2022, New York City (United States), Unfunded	Technology solution for recycling of critical minerals and rare earth elements	-	-	16/100