Novoloop, a pioneer in advanced chemical recycling, has closed a $21 million Series B funding round led by Taranis.

The investment will accelerate Novoloop’s commercial scale-up of its proprietary Lifecycling technology, which transforms post-consumer polyethylene into high-performance polyol and polyurethane, and support the launch of key customer programmes.

This latest funding round brings Novoloop’s total capital raised to over $50 million and marks a continuation of the company’s significant momentum demonstrated by achieving continuous operations at its demonstration plant in India, strategic partnerships with world-leading polyurethane producers in China and progress towards siting a first commercial facility.

With continued backing from existing investor Valo Ventures, the round also welcomed new investment from the Bata Shoe Company.

“We are thrilled to partner with Taranis, whose deep commitment to plastic circularity and industrial decarbonization aligns with our ambition to scale Lifecycling globally,” said Miranda Wang, CEO and co-founder of Novoloop. “This round positions us to meet growing demand from a wider supply chain seeking circular and cost-competitive polyurethanes through the industrial scale-up of our first-of-a-kind technology.”

Taranis, headquartered in Westfield, Indiana, will contribute deep operational and technical expertise in scaling pioneering industrial technologies. The investment recognises Novoloop’s ability to deliver scalable impact by displacing fossil-based inputs in everyday products.

“As the world looks to decarbonize materials and eliminate waste, Novoloop offers a breakthrough solution for upcycling polyethylene – one of the hardest plastics to recycle,” said David Sorin, managing director of Taranis. “Its technology fits within our mission to decarbonize heavy industries and scale circular infrastructure. We are proud to back the team in building a more circular, low-carbon plastics economy.”

Founded in 2015 and based in Menlo Park, California, Novoloop holds 50 granted and pending patents across 18 regions. Its Lifecycled TPU made its debut in On’s Cloudprime running shoe in 2022 and in 2025 the company was named one of TIME’s World’s Top Greentech Companies.

www.novoloop.com