Canvaloop raises $1.5 Mn in funding round

Surat-based biomaterials startup Canvaloop has raised $1.5 million in a funding round backed by Gujarat Venture Finance Limited (GVFL) and Rockstud Capital.

The newly secured funds will be directed towards scaling manufacturing capacity, improving operational efficiency, and strengthening its supply and delivery capabilities, while also advancing its alternative fibre ecosystem.

Launched in 2020 by Shreyans Kokra, the company develops sustainable textile fibres by processing agricultural residue such as banana, pineapple, hemp, and other crop waste. Its proprietary technology focuses on reducing environmental impact through low water usage and minimal chemical intervention.

Canvaloop is working with a variety of natural feedstocks to create scalable, eco-friendly material solutions aimed at reducing the textile industry’s reliance on conventional fibres.

Looking ahead, the startup plans to deepen its focus on next-generation materials, including regenerative fibres, as it builds solutions for a more sustainable and future-ready textile value chain.