Tire recycling technology provider Black Bear Carbon has received $12.8m in a round backed by both corporates.

Black Bear Carbon, a Netherlands-based tire recycling company, has raised €11m ($12.8m) from a consortium including financial services group ING and diversified conglomerate SCG.

Investment firms 5square and Social Impact Ventures also contributed to the round, along with existing investors including state and corporate-backed VC firm Chemelot Ventures and Doen Participaties, the VC arm of Doen Foundation.

Founded in 2010, Black Bear has created technology that recycles used tires, extracting the raw materials for technical rubber and use in new…

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