Italian aquaponic agricultural company The Circle has raised a further €2.1 million in a round led by Opes Italia and Sparviero Holding. The firm has raised a total of €3.6 million as it has already acquired €1.5 million from Invitalia through the Smart & Start Italy - PON Enterprises and Competitiveness 2014 – 2020 program.
"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," says Elena Casolari, Partner and CEO of Opes Italia.
Founded in 2017 by biotechnologists Valerio Ciotola, Simone Cofini, Lorenzo Garreffa, and marketer Thomas Marino, The Circle's fresh funding will allow for the build of two new aquaponic salad and herb production facilities, one in Rome and one in Milan. These facilities will be for the restaurant industry. It will also see the production of aquaponic-origin pesto, oils, and flavoured salts, which will be located in Abruzzo.
"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," says Ciotola, CEO of The Circle.
Lead image: The Circle founders. Photo: Uncredited.