# Cyclic Materials funding: rounds and investors > Cyclic Materials has raised $150M across 2 rounds since 2026. Investors include Fifth Wall, Energy Impact Partners and Hitachi Ventures. Source: https://millionrounds.com/company/cyclic-materials (Millionrounds; every figure on the page links to its filing or article) Canada · [Venture startup](https://millionrounds.com/companies) # Who invested in *Cyclic Materials* 2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Cleantech Raised 3 months ago Funding summary Updated 26 Oct 2026 **$150M** raised across 2 rounds since 2026, from 2 sources **$75M** Series C **$75M** Venture - **Latest round:** Venture, $75M Aug 2026 - **Investors:** 3 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 2027 **$75M** Series C **$75M** Venture - **First round:** Series C, $75M - **Biggest round:** $75M - **Between rounds:** 7 months ## The rounds - **Aug 2026** Venture **$75M** *3 returning* [Fifth Wall](https://millionrounds.com/fund/fifth-wall) [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners) [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) Source recorded - **Jan 2026** Series C **$75M** *3 new* [Fifth Wall](https://millionrounds.com/fund/fifth-wall) [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners) [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) Source recorded ## Founders and team From Cyclic Materials's own website: 1 founder, 10 on the team. **Ahmad Ghahreman** CEO & Founder - **Alex Forstner** CTO - **Jeff Dawley** CFO - **Matt Cherevaty** COO - **Deta Constantine** Head of HR, People & Culture - **Klaus Kleinfeld** Director - **Marc Faucher** Director - **Peter Kondos** Director - **Rik Wehbring** Director - **Sam Bursten** Director - **Scott Walbrun** Director Advisers *Adam Shine* *Christophe Lautray* *Mike Outwin* ## 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. **Series C** 2026 **Venture** 2026 [Fifth Wall](https://millionrounds.com/fund/fifth-wall) [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners) [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) ## Everyone who backed them [Fifth Wall](https://millionrounds.com/fund/fifth-wall) VC firm **2** rounds [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners) VC firm **2** rounds [Hitachi Ventures](https://millionrounds.com/fund/hitachi-ventures) Corporate VC **2** rounds Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=cyclic-materials). ## Also claim to have backed them These 4 firms list Cyclic Materials as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [BMW i Ventures](https://millionrounds.com/fund/bmw-i-ventures) Corporate VC Per its own site [Zero Infinity Partners](https://millionrounds.com/fund/zero-infinity-partners) VC firm Per its own site [Planetary Technologies](https://millionrounds.com/fund/planetary-technologies) Company Per its own site [SAGANA](https://millionrounds.com/fund/sagana) Family office Per its own site ## Quick answers about Cyclic Materials ### Who invested in Cyclic Materials? Cyclic Materials's investors include Fifth Wall, Energy Impact Partners and Hitachi Ventures. ### How much has Cyclic Materials raised? Cyclic Materials has raised $150M across 2 rounds since 2026. ### When did Cyclic Materials last raise? Cyclic Materials's most recent round was a Venture of $75M in Aug 2026. ### What was Cyclic Materials's biggest round? Its most recent round, $75M in Aug 2026, is also its largest on record. ### Who backed Cyclic Materials first? Cyclic Materials's first round on record, in Jan 2026, was backed by Fifth Wall, Energy Impact Partners and Hitachi Ventures. ### What stage is Cyclic Materials at? Cyclic Materials's latest named round is a Venture, in Aug 2026. ### Where is Cyclic Materials based? Cyclic Materials is based in Canada. ## Companies like Cyclic Materials In the same sector, and raised in the last eighteen months. [**CURA** $14M · Sept 2026](https://millionrounds.com/company/cura)[**Kanin Energy** $100M · Sept 2026](https://millionrounds.com/company/kanin-energy)[**General Fusion** $241M · Jul 2026](https://millionrounds.com/company/general-fusion)[**Nunavut Nunkiksautiit Corporation** $10M · Jun 2026](https://millionrounds.com/company/nunavut-nunkiksautiit-corporation)[**BrandPilot** $549K · May 2026](https://millionrounds.com/company/brandpilot)[**Atlas Salt** $17M · May 2026](https://millionrounds.com/company/atlas-salt) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app