Sweden · 
Who invested in Circulate?
Circulate's investors include Khosla Ventures, Antler, Scrum Ventures and J12 Ventures.
2022202320242025
$1.5MPre-seed?Venture
Sweden · Venture startup
Who invested in Circulate
Funding summaryUpdated 26 Oct 2026
$1.5Mraised across 2 rounds since 2021, from 2 sources
- Latest round
- VentureDec 2025
- Biggest round
- $1.5MPre-seed · Sept 2021
- Investors
- 4
The funding story
Each circle is a round, placed by date and sized by amount. The line above is the running total.
- First round
- Pre-seed, $1.5M Sept 2021
- Biggest round
- $1.5M Pre-seed · Sept 2021
- Between rounds
- 4.3 years from the last two
The rounds
- Dec 2025VentureAmount undisclosed2 new
Source recordedSEC filing: $13M sold, first sale Jun 2025
- Sept 2021
Founders and team
From Circulate's own website: 2 on the team.
- Karolina Ling-VannerusCEO
- Lars JacobssonCTO
Who was in which round
The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.
Everyone who backed them
Missing a round, or an investor who was in one? Tell us.
Quick answers about Circulate
How much has Circulate raised?
Circulate has raised $1.5M across 2 rounds since 2021. One round did not disclose an amount, so the total is a floor.
When did Circulate last raise?
Circulate's most recent round was a Venture in Dec 2025.
What was Circulate's biggest round?
Circulate's largest round on record is $1.5M (Pre-seed), in Sept 2021.
Who backed Circulate first?
Circulate's first round on record, in Sept 2021, was backed by Antler and J12 Ventures.
What stage is Circulate at?
Circulate's latest named round is a Venture, in Dec 2025.
Where is Circulate based?
Circulate is based in Sweden.
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