GVFL, an Indian venture capital firm, invested INR100m, with Rockstud Capital contributing the remaining INR33m.

Founded in 2020 by Shreyans Kokra, Canvaloop develops spinnable fibres 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 to advance research and development in regenerative cellulose.

The company will also add team members to support growth.

GVFL managing director Mihir Joshi said: “Canvaloop exemplifies the scalable innovation Gujarat startups are delivering in deep-tech sustainability. With its founder, Shreyans Kokra’s vision, we are excited to fuel their journey from a local waste-to-fibre pioneer to a global supply chain backbone. This investment aligns with GVFL’s commitment to high-impact ventures driving environmental and economic value.”

Rockstud Capital managing partner Abhishek Agarwal said: “Canvaloop’s ability to convert agricultural waste into textile-grade materials shows how sustainability and industrial innovation can go hand in hand. We think such solutions are vital for the shift to circular manufacturing in global supply chains.”

Canvaloop has supplied more than 200 clients and reported revenue generation to confirm the commercial viability of its products.

The company targets premium and luxury market segments through proprietary processing that aims for consistent and cost-effective quality.

Shreyans Kokra stated that the company’s objective aligns with the textile and fashion industry’s target to reduce greenhouse gas emissions from fibre and raw material production by 45% by 2030.

Kokra said: “We transform agricultural waste into textile-grade materials and yarns using proprietary low-impact technology. Our climate-friendly, closed-loop process eliminates the use of solvents, recycles water, and utilises bio-waste as a heat source.”

"Canvaloop raises $1.4m, eyes tenfold increase in textile production" was originally created and published by Just Style, a GlobalData owned brand.

 

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