GreenMantra raises $17 mln in funding to recycle plastics

GreenMantra Recycling Technologies Ltd has completed a series of funding deals that gave it more than $17 million in proceeds. The investment included equity financing from Canadian venture capital firms Cycle Capital Management and ArcTern Ventures, debt financing from Comerica Bank and Export Development Canada, and additional support from the Ontario Ministry of Research and Innovation and Sustainable Development Technology Canada. The funds will be used to expand the production capabilities of GreenMantra, which is focused on turning plastics into high-value specialty chemicals. Founded in 2010, the company is based in Brantford, Ontario.

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