Sustainable fibres maker Canvaloop raises $200-K from Theia Ventures, Social Alpha

Surat-based alternative fibres maker Canvaloop Fibre has raised pre-seed funding of USD 200,000 from Theia Ventures and Social Alpha. Basic Roots Consulting provided advisory services for the transaction. Founded by Shreyans Kokra, Canvaloop provides plug-and-play fibre and yarns made out of agro-waste to fashion brands. It uses a proprietary technology to convert fibre and yarn materials from hemp and agricultural waste to sell as raw material to garment and apparel manufacturers, and onwards to global brands.