NTI: Canvaloop, a Surat-based bio-material startup, was launched by Shreyansh Kokra, with the support of Head of Marketing Nandini Kokra and Head of Operations Dhruv Gupta. This innovative company has made waves in the sustainable fashion industry, generating ₹3.2 crore in revenue for FY 2022-23 and nearly ₹8 crore in FY 2023-24. As of today, Canvaloop is valued at approximately ₹50 crore, with ambitions to grow to ₹2000 crore in the next seven years.
Shreyansh Kokra: Visionary CEO and Founder
Shreyansh Kokra, CEO and founder of Canvaloop, hails from a family deeply embedded in the textile business. This background provided him with a comprehensive understanding of the textile industry from an early age. After earning a degree in finance, Shreyansh gained corporate experience at Barclays Corporate and Investment Bank. He later pursued a master’s in entrepreneurship in the United States, initially planning to launch a fintech company. However, a college project on textile sustainability changed his career trajectory, inspiring him to launch Canvaloop.
The Inspiration Behind Canvaloop
During his studies in the U.S., Shreyansh learned some startling facts. Producing a single cotton shirt consumes approximately 9000 liters of fresh water. Furthermore, synthetic textiles like polyester and nylon, derived from crude oil, are non-biodegradable and release harmful microplastics into the water when washed. Additionally, in India, an estimated 10-15 tonnes of agricultural waste are burned every year, leading to pollution. Inspired to tackle these problems, Shreyansh returned to India and set out to revolutionize the textile industry by launching Canvaloop—a company focused on converting agricultural waste into sustainable textile solutions.
Canvaloop’s Mission: Turning Waste into Value
Founded in 2020, Canvaloop specializes in converting agricultural waste, such as hemp, pineapple, and banana fibers, into eco-friendly textiles. In addition to producing sustainable materials, Canvaloop shares its technology with other companies to promote sustainability within the broader fashion industry.
The Road Ahead: A ₹2000 Crore Vision
Looking forward, Canvaloop aims to achieve a valuation of ₹2000 crore by 2030. The company’s mission is to make environmentally friendly textiles accessible worldwide and to position agricultural waste-derived fibers as mainstream fashion materials by that time. Through this ambitious vision, Canvaloop hopes to address both environmental and industry challenges, creating a greener future for fashion.
Shreyansh Kokra’s journey exemplifies how an innovative mindset and entrepreneurial spirit can transform a problem into a business opportunity worth millions. With Canvaloop, he is not only building a profitable venture but also setting new standards for sustainability in the textile industry.
