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- CirCon#65: Vinted's €8bn Valuation, eBay's Recommerce Report, and Brazil's Reverse Logistics Mandate
CirCon#65: Vinted's €8bn Valuation, eBay's Recommerce Report, and Brazil's Reverse Logistics Mandate
A huge thank you to Iron Mountain for sponsoring this week’s newsletter!
Iron Mountain draws on over 70 years of trusted expertise in data security, logistics, and storage to deliver end-to-end IT asset lifecycle management services. From secure data sanitisation and certified disposal through to resale and recovery, Iron Mountain helps organisations maximise value, minimise risk, and meet sustainability goals.
It’s been a busy week! Let’s get stuck in.
Industry News
Collaborations and Partnerships 🤝:
ERI and ReElement Technologies form rare earth processing partnership. ERI will supply end-of-life magnet material from its electronics recycling network, while ReElement will convert the feedstock into high-purity rare earth oxides, strengthening domestic capacity for recycled critical minerals. Read more.
Dyson and Raylo set a new benchmark for circular tech. Dyson has partnered with Raylo to offer certified “Dyson Renewed” devices via a subscription model, with products returned for refurbishment at end-of-term. The move shifts Dyson further from one-off sales towards lifetime stewardship and resource efficiency. Read more.
Ester and Loop Industries launch partnership with Nike as anchor customer. The JV will build a new facility in Gujarat to turn textile waste into high-quality recycled polyester inputs using Loop’s technology. Nike has signed a multi-year offtake agreement, securing future supply of recycled materials for its product lines. Read more.
Reboxed and uSwitch join forces to scale refurbished tech. The pair have launched a co-branded marketplace for used devices, powered by Reboxed’s Circularity-as-a-Service platform across sourcing, grading, logistics and trade-ins. The partnership lets uSwitch users confidently buy verified refurbished phones or trade in old handsets. Read more.
Ducor Petrochemicals and Blue Circle Olefins team up to advance circular polypropylene. The collaboration will produce segregated bio-based and carbon-recycled polypropylene for sectors including healthcare, automotive and packaging, cutting lifecycle emissions by more than 80% versus conventional polyolefins. Read more.
Haelixa and New Focus Textiles partner to verify recycled cotton authenticity. Haelixa’s DNA marker technology is being applied to New Focus Textiles’ recycled cotton feedstock, giving brands forensic proof that fibres are genuinely recycled and strengthening traceability across the cotton supply chain. Read more.
Company Updates 🔎:
Vinted hits major growth milestones and explores new liquidity event. The secondhand marketplace has surged past €10 billion in GMV and is on track to exceed €1 billion in revenue for 2025, driven by rapid growth in the US and a broader move beyond fashion resale. The company is now exploring a secondary share sale at a valuation of around €8 billion. Read more.
eBay’s 2025 Recommerce Report shows secondhand firmly embedded in consumer behaviour. The latest edition highlights that most shoppers plan to maintain or increase their spend on pre-loved goods in 2025, with Gen Z and Millennials leading the shift. Value, sustainability and wider product choice continue to drive adoption. Read more.
Evri reports higher parcel volumes as secondhand selling accelerates. Rising activity across resale marketplaces and pre-loved platforms has driven millions of additional parcels through Evri’s network this year, with the courier posting double-digit revenue and EBITDA growth. Read more.
Siemens introduces Circular Repair Services to extend industrial equipment life. The new service model restores automation products to high-performance standards with warranty-backed assurance, helping manufacturers avoid premature replacement, cut resource use, and stabilise lifecycle costs. Read more.
Century Recycling invests in a new aluminium recycling plant in Mission, Texas. The $50 million project will deliver a 98,000-square-foot facility creating around 70 jobs, with operations targeted for early 2026. Its location near the Anzalduas International Bridge strengthens access to cross-border scrap flows and US customers. Read more.
Samsara Eco expands capacity for its enzymatic recycling platform. The Australian innovator is scaling production of recycled inputs made from mixed plastics and textiles, giving brands more reliable supply for circular manufacturing. The expansion supports higher-quality feedstocks across apparel, packaging, and automotive sectors. Read more.
Loadhog opens new reusable packaging factory in France. The facility boosts European production of reusable trays, totes, and other intralogistics packaging designed for automated systems. The site runs on renewable energy and cuts transport related emissions by locating capacity closer to customers. Read more.
Rockwell Automation ramps up US manufacturing with new mega site. The industrial automation leader is building a one-million-square-foot greenfield factory in Wisconsin, equipped with advanced robotics, digital systems, and AI tools, marking a major investment in manufacturing scale and resilience. Read more.
SmartphonesPlus recognised as one of the fastest growing companies in the US. The ITAD specialist has scaled rapidly from a small family operation to a nationwide provider of device collection, data erasure, refurbishment and resale services, reflecting growing demand for high-quality secondhand electronics. Read more.
Regional Updates 🌎️:
Brazil introduces mandatory reverse logistics system for plastic packaging. A new decree requires producers, importers and retailers to take responsibility for collecting and recycling plastic packaging from 2026. The framework sets rising recovery and recycled content targets and brings Brazil closer to international standards. Read more.
China launches pilot platforms to turn waste streams into high-value resources. The initiative establishes national platforms for the collection, processing and reuse of construction waste, agricultural residues, and end-of-life consumer goods, improving material recovery and channelling secondary resources back into industry. Read more.
Taiwan unveils national circular economy roadmap. The draft plan targets a 2.5 times rise in circularity by 2050, shifting the country from waste management to full-lifecycle material recovery and reuse. It focuses on priority sectors including textiles, plastics, construction, high-tech and critical materials. Read more.
UK Construction firms show growing willingness to pay more for circular products. Holcim UK research finds most decision-makers now prioritise verified circular credentials in procurement, marking a sharp rise in demand for lower-waste, resource-efficient products and solutions. Read more.
India’s sustainability startups enable greener e-commerce. India’s startup ecosystem is building solutions for circular packaging, return management, localised reuse models and better traceability, helping major retailers cut packaging waste, strengthen reverse logistics capacity, and improve material recovery. Read more.
Singapore builds national plastics passport using SMX technology. The initiative embeds molecular level markers into plastics so each piece carries a “passport” of its composition and lifecycle, making traceability and recycling verification far more robust and scalable. Read more.
EU material circularity edged upward in 2024. Eurostat’s latest figures show European circular material use rose again, signalling steady progress in closing the loop across key value chains. While performance varies widely between member states, the overall trend points to increased secondary material integration and stronger recycling. Read more.
Investment News
M&A 💰️:
Repsol Foundation acquires 14% stake in circular textile leader Coleo. With this investment, Coleo’s textile-waste-to-recycled-fibre operations gain new backing to expand European processing and strengthen social-impact employment. The deal aligns with Repsol’s “triple-impact” strategy to blend business growth, environmental protection, and social inclusion in its portfolio. Read more.
Ecosurety strengthens UK reuse infrastructure by taking on Refill Return. The acquisition brings the Refill Return app and website under Ecosurety’s umbrella, expanding support for reusable cup and refill schemes across towns, universities and visitor destinations. Read more.
Venture and Growth Capital 📈:
Tulu secures $37 million to scale its product access platform. The funding will help the company expand its IoT-enabled sharing units within residential buildings across the US and Europe, reaching over 500,000 residents in 60+ cities. Tulu’s model moves the market from ownership towards use, reducing unnecessary consumption. Read more.
Sortera raises $45 million to scale its AI-driven aluminium recycling platform. The US recycler uses advanced sensors and machine learning to separate high-value aluminium alloys with far greater precision. The funding supports a second facility in Tennessee and expands supply of low-carbon, recycled metal to manufacturers. Read more.
Novo Holdings invests in Blue Planet to scale zero waste infrastructure. The funding supports Blue Planet’s expansion across India, Southeast Asia, New Zealand and the Gulf, strengthening its technology-led waste processing and materials recovery platform. Read more.
Before we wrap up for the weekend, why not take part in our referral scheme and share Circular Connect with someone who will benefit from it?
Have a great one and we’ll meet again on Monday!
Cheers to circularity,
#TeamCircularConnect #ConnectingTheCircularEconomy
