Canvaloop, a biomaterials company that turns agricultural waste into textile-quality fibers, has raised US$1.5 million from Gujarat Venture Finance Limited (GVFL) and Rockstud Capital.
The startup, featured on Shark Tank India, will use the funding to produce more products, meet demand faster, and grow its alternative fiber platform.
Shreyans Kokra, Founder of Canvaloop, said, “This raise is an important milestone in our journey. 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.”
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.”
Abhishek Agarwal, Managing Partner at Rockstud Capital, said, “India’s manufacturing future will be shaped by founders rethinking materials and supply chains. 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, founded in 2020 by Shreyans Kokra, turns agricultural waste like pineapple, banana, and hemp into eco-friendly textile fibers. They use a special process that saves water and uses very few chemicals.
The Surat-based startup uses natural materials such as hemp, flax, and leftover crops to create sustainable alternatives for the textile industry.
Canvaloop plans to continue developing new materials, including regenerative fibers, to make the textile industry more sustainable and eco-friendly.
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