Funding

[Funding alert] Italian Aquaponic firm The Circle Raises €2.1M in Funding

Oct 10, 2023 | By Startup Rise EU

Team - The Circle

The Circle, an Italian aquaponic farming startup, has Secures an additional €2.1 million in a round that was co-led by Opes Italia and Sparviero Holding. As part of the Smart & Start Italy - PON Enterprises and Competitiveness 2014 - 2020 program, the company raised a total of €3.6 million, of which it had already received €1.5 million from Invitalia.

Read also - London-based Lottie Secures €20 million Series A Round Funding

The Circle's new funding will allow the construction of two new aquaponic salad and herb production facilities, one in Rome and one in Milan, as part of its efforts to advance environmentally friendly food innovation.

Read also - German Climatetech Startup Purpose Green Raises €3.3 million in Funding

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Elena Casolari, Partner and CEO of Opes Italia said, "We invested in The Circle because we believe it is a reference point not only in Italy for circular production innovation, which addresses the urgent global need to efficiently use resources such as water and soil in the food production chain. We are proud to contribute with The Circle's proposal to bring sustainable food to Italian tables and soon, to European ones,".

Ciotola, CEO of The Circle said, "In addition to a significant increase in the production of aquaponic products, the investments will allow for significant progress within the facilities through the implementation of the intellectual property developed over the years in both cultivation systems and cutting and cleaning operations,".

Read also - Insulation Startup VARM Secures a Seven-Figure Pre-Seed Round of Funding

About The Circle

The Circle is an agricultural company with a profitable and environmentally friendly growth plan that provides food and energy without having any negative effects on the environment. It was established in 2017 by biotechnologists Thomas Marino, Simone Cofini, Lorenzo Garreffa, and Valerio Ciotola. To have a positive impact, we must get past the idea that we have no impact.

Read also - German-based Digital Insurtech Startup Getsafe has Acquired the Portfolio of Luko

A couple of blocks from Rome, on two hectares of land, the enterprise was founded. Within a vineyard situated in the countryside, a 1000 m2 greenhouse and a 600 m2 vegetable garden with zero negative impact on the environment have come to life. We provide conventional goods that have been completely sustainably grown.

Read also - Ukraine-based Product Development Company Trinetix Raises $10 million in Funding

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