Sustainable tech business secures funding from the Midlands Engine Investment Fund II

Circulayo is a leading provider of sustainable technology solutions that help businesses reduce single-use plastics. The funding will support Circulayo as it expands into new sectors and regions, invests in its technology and develops its sales and marketing activities, while creating 20 new jobs to help increase its geographical reach in the region and grow its customer base.

The business works with clients in several sectors including sports, education, healthcare, hospitality, and retail, helping them transition to circular economy practices. Circulayo’s solution helps businesses reduce waste, save on costs, and meet environmental, social, and governance (ESG) goals.

Circulayo’s impressive customer base includes Derby County Football Club, University College London and more recently, the University Hospital of Derby and Burton NHS Foundation Trust.

Andy Flinn, CEO at Circulayo, said: "Maven have been incredibly supportive to our Company. Sajid provided a great depth of understanding for our mission and was a guiding light through the process to achieve this important strategic funding."

Sajid Sabir, Investment Manager at Maven, said: "Circulayo is committed to sustainability and the transition away from single-use plastics. The company’s innovative technology and success with key customers position it strongly for continued growth. We’re pleased to support Andy and the team as the business expands both its customer base and geographical reach, creating new jobs and further driving the shift towards a more sustainable future.”

David Tindall, Senior Manager at British Business Bank, said: "The Midlands Engine Investment Fund II was established to offer alternative financing options for innovative, growth-focused SMEs in the Midlands. It’s great to see the fund supporting innovation in the region, and this investment in Circulayo will enable the company to scale up and help drive a reduction in single use plastics.”

The £400 million Midlands Engine Investment Fund II was launched in February 2024 and covers the entire Midlands region, providing debt finance from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.