Novoloop, an innovator in chemical recycling technology, has closed its Series B funding round, led by Taranis. The investment will support the commercial scale-up of Novoloop’s Lifecycling™ process, which converts post-consumer polyethylene waste into high-performance polyol and polyurethane. The funding will also help launch key customer programs as the company moves closer to large-scale deployment.

With this latest round, Novoloop has now raised over $50 million in total capital. The funding follows several recent milestones, including continuous operations at its demonstration facility in India, strategic collaborations with leading polyurethane producers in China, and early progress toward establishing its first commercial production site.

The round includes continued support from existing investor Valo Ventures and introduces new participation from SHOP Limited, the Family Office of the Bata Shoe Company.

“We are thrilled to partner with Taranis, whose commitment to plastic circularity and industrial decarbonization aligns with our global vision for Lifecycling™,” said Miranda Wang, CEO and co-founder of Novoloop. “This round strengthens our ability to meet growing industry demand for circular, cost-effective polyurethanes by scaling up our breakthrough technology.”

Taranis is known for its hands-on experience in scaling industrial technologies for hard-to-abate sectors. Its investment highlights Novoloop’s potential to replace fossil-based inputs in everyday products with recycled alternatives, positioning the company as a key player in advancing sustainable materials and enabling a circular economy.