Shark Tank India contestant Canvaloop raises $1.5M for biobased fibers
In India, biomaterials firm and Shark Tank India alumni Canvaloop has raised $1.5 million to scale production of its biobased fiber and accelerate commercial adoption. The company’s process converts agricultural waste into textile-grade fibers. Such fibers are highly coveted by the global fashion and textile industries, which have faced criticism for their negative environmental impacts.
Gujarat Venture Finance Limited and Rockstud Capital participated in the funding round. “This raise is an important milestone in our journey,” Shreyans Kokra, Canvaloop founder told Indian Textile Magazine. “From the beginning, we have believed that sustainability has to be built for real adoption — at the speed, quality, and scale the industry demands. With the support of GVFL and Rockstud Capital, we are excited to strengthen our manufacturing base, deepen material innovation, and move closer to building one of the most important alternative fibre platforms to emerge from India.”
Category: Chemicals & Materials
