CanvaLoop Fibre Raises Pre-seed Funding From Theia Ventures And Social Alpha
CanvaLoop Fibre, a Gujarat-based startup that converts agricultural waste to textile fibres, has raised $200K (around Rs 1.5 crore) in a pre-seed funding round from Theia Ventures and Social Alpha.
Founded in 2020 by Shreyans Kokra, a fourth-generation textile and fashion entrepreneur, CanvaLoop is a Gujarat-based startup, that through its proprietary technology, converts agricultural waste to textile fibres.
It is an alternative fibre and a material science company, wherein the created fibres are- socially inclusive, functionally superior and environmentally sustainable.
CanvaLoop Fibre | Converting Agricultural Waste To Textile Fibres
The Gujarat-based startup has other business divisions such as HempLoop, and the direct-to-consumer (D2C) brand Slow by Canvaloop. It uses Cannabidiol (CBD) and hemp fibre to manufacture products that are sold mainly to garment and apparel manufacturers. As per the Gujarat-based startup, it has plans to sell them to global brands going forward.
Speaking about the company, Shreyans Kokra said,
“We are building a vertically-integrated sustainable fashion company, backed by our proprietary technology, and aspire to be present in every wardrobe by 2030.”
Social Alpha is a Bengaluru-based multistage innovation curation and venture development platform that is driving economic growth, social justice & climate action through the power of entrepreneurship & innovations. The Bengaluru-based firm aims to address the most critical social, economic and environmental challenges and supports mission-aligned entrepreneurs through a network of innovation labs, startup incubators, accelerator programmes, seed funds and market access mechanisms.
Theia Ventures is a venture capital investment firm that invests in strong enterprises with committed founding teams, at the seed stage, with tailored financial instruments to support growth and sustainable operations. The venture capital firm invests in climate technology, sustainability and circular economy sectors in India.
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