GVFL, an Indian venture capital firm, invested INR 100 million and Rockstud Capital contributed the remaining INR 33 million.
Founded in 2020 by Shreyans Kokra, Canvaloop develops spinnable fibers from crop residues, including hemp, flax, banana, nettle and pine, under product names such as HempLoop, FlaxLoop, BanLoop, NettleLoop and PineLoop.
The company designs its materials to integrate with existing spinning mills.
Canvaloop plans to use the new capital to expand monthly production capacity from 30 tonnes to 300 tonnes and advance research and development of regenerative pulp.
The company will also add team members to support growth.
GVFL CEO Mihir Joshi said, “Canvaloop exemplifies the scalable innovation that Gujarat startups are bringing in deep-tech sustainability. With the vision of its founder, Shreyans Kokra, we are excited to drive its journey from a local waste-to-fiber pioneer to a backbone of the global supply chain. This investment aligns with GVFL’s commitment to high-impact companies that drive environmental and economic value.”
Abhishek Agarwal, Managing Partner at Rockstud Capital, said: “Canvaloop’s ability to convert agricultural waste into textile-grade materials shows how sustainability and industrial innovation can go hand in hand. We believe these solutions are vital to the shift towards circular manufacturing in global supply chains.”
Canvaloop has supplied over 200 customers and reported revenue generation to confirm the commercial viability of its products.
The company targets the premium and luxury market segments through proprietary processing that aims for consistent, cost-effective quality.
Shreyans Kokra stated that the company’s objective aligns with the textile and fashion industry’s goal of reducing greenhouse gas emissions from the production of fibers and raw materials by 45% by 2030.
Kokra said: “We transform agricultural waste into textile-quality materials and yarns using proprietary, low-impact technology. Our climate-friendly, closed-loop process eliminates the use of solvents, recycles water and uses biowaste as a heat source.”
“Canvaloop raises $1.4 million and plans to increase textile production tenfold” was created and originally published by Just Style, a brand owned by GlobalData.
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