Biomaterials startup Canvaloop raises $1.5 M from Gujarat Venture, Rockstud Capital
Gujarat Venture Finance Limited GVFL and Rockstud Capital have contributed $1.5 million to Canvaloop, a biomaterials company that turns agricultural waste into textile-grade fibers. Shark Tank India also highlighted the startup.
According to a press release, the company will use the money to scale its alternative fiber platform, increase production capacity, improve supply readiness, and shorten delivery times.
Canvaloop, which was founded in 2020 by Shreyans Kokra, uses a closed loop, proprietary climate light technology that uses little water and chemicals to turn agricultural waste, including pineapple, banana, and hemp, into environmentally friendly textile-grade fibers.
The Surat-based startup creates scalable and sustainable material substitutes for the textile industry using natural feedstocks like hemp, flax, and crop residues.
In order to support the transition to more resilient and sustainable textile value chains, Canvaloop intends to keep investing in next-generation material innovation, including regenerative fiber.
