Biography of Shreyans Kokra: Founder and CEO of Canvaloo- Entrepreneur
Biography of Shreyans Kokra:
Education and Early Career
Shreyans Kokra's journey into the world of business began
with a solid foundation in finance. He graduated with a Bachelor's degree in
Accounting and Finance from Narsee Monjee College of Commerce and Economics.
During his time there, he also completed an ATC from the Institute of Chartered
Accountants of India. He went on to pursue an MSEL in Entrepreneurship at
Babson College, an institution known for fostering entrepreneurial minds.
Shreyans later attended Tongji University in China for a global entrepreneurship
program, which further fueled his passion for creating businesses that could
make a difference.
The Turning Point: Discovering the Textile Industry’s Hidden
Problem
Although Shreyans had always envisioned himself pursuing a
career in fintech, his time in the United States led him down a different path.
During his studies at Babson College, he was struck by the idea of
sustainability. He began to realize how significant an issue pollution caused
by the textile industry was, yet it had remained largely overlooked compared to
more visible environmental concerns like plastic and fuel pollution. This
realization ignited a deep passion in him to address the environmental harm
caused by textiles and find innovative ways to solve the problem.
A New Vision: The Birth of Canvaloop
In 2017, Shreyans decided to turn his newfound passion into
a business. He founded Canvaloop, a company with a mission to create
eco-friendly fabrics using agricultural waste. His background in finance,
combined with his entrepreneurial studies, gave him the tools to approach this
venture strategically. Shreyans was determined to replace traditional,
polluting fabrics with more sustainable alternatives, focusing on materials
such as hemp, banana leaves, and other agricultural by-products that would otherwise
go to waste. Canvaloop's aim was to reduce textile pollution, one fiber at a
time
Overcoming Challenges: The Early Days of Canvaloop
The early years of Canvaloop were not easy. Shreyans
describes the first two years as a time of trial and error, with much of the
work feeling like “shooting blind arrows.” But despite the challenges, Shreyans
pressed on, believing in the importance of his mission. He realized that Surat,
the city where he started his business, lacked the technology to produce
sustainable fabrics. So, he and his team set to work developing their own
proprietary technology to turn agricultural waste into fibers that could be
used in the textile industry, setting Canvaloop apart from other fabric
manufacturers.
The Breakthrough: Creating Eco-Friendly Fabric
Through years of research and development, Canvaloop finally
created a breakthrough in sustainable fabric production. By using agricultural
waste, including hemp, banana plants, and pineapple leaves, the company
developed fibers that could be spun and woven into textiles without harming the
environment. Their technology was unique, as it allowed the conversion of hard
agricultural waste into soft, textile-grade fabric. What set Canvaloop apart
was that their fibers could be processed on existing textile machinery, making
it easier for manufacturers to adopt their sustainable materials.
The Impact: Addressing Global Textile Pollution
The environmental impact of the textile industry is
staggering. According to Shreyans, textiles are the second most polluting
industry in the world, and textile pollution is expected to become a $52
billion problem by 2030. The raw material stage of textile production
contributes to 24% of this pollution. Canvaloop aims to tackle this issue
head-on by replacing traditional, resource-draining fibers like cotton with
their eco-friendly alternatives. This shift not only reduces the carbon
footprint of textile production but also makes use of agricultural waste, which
is a significant environmental problem in countries like India.
The Bigger Problem: Agricultural Waste Burning in India
Another pressing issue Shreyans sought to address was the
practice of burning agricultural waste, which contributes significantly to air
pollution. In India, over 90 million tonnes of agricultural waste are burned
each year, creating massive smog clouds that affect air quality, especially in
cities like Delhi. This burning of crop residue contributes to 40% of the
particulate matter pollution in the city. By converting this agricultural waste
into textile fibers, Canvaloop is not only helping to reduce air pollution but
also providing a valuable use for this waste, benefiting both the environment
and farmers.
Biography of Shreyans Kokra: Founder and CEO of Canvaloo- Entrepreneur/eco-friendly fabrics made from agricultural waste/age/net worth/Canvaloo story
Canvaloop’s Mission: Sustainability and Empowerment
Canvaloop is driven by the belief that sustainability and
luxury can coexist. The company’s fibers are not just environmentally friendly;
they are also functional and of high quality. Shreyans and his team are
committed to producing materials that are socially inclusive, functionally
superior, and environmentally sustainable. By using agricultural waste, they
offer a solution that benefits the planet while supporting farmers. Canvaloop’s
products aim to provide consumers with eco-friendly textiles that do not
compromise on performance or luxury.
The Rise of Canvaloop: Recognition and Growth
As the world became more aware of the importance of
sustainability, Canvaloop began to gain recognition. Shreyans’ innovative
approach to using agricultural waste in textiles attracted attention from
investors and leading fashion brands. Canvaloop participated in a prominent
business pitch show, Shark Tank India, where it secured a significant
investment of ₹2 Crores for a 4% equity stake in the company. This investment
validated the potential of their technology and boosted their visibility in the
global textile market.
The Unique Selling Proposition: A Better Fabric for the
Future
Canvaloop’s success lies not only in its eco-friendly
approach but also in the superior qualities of its fibers. The materials
produced by Canvaloop are anti-UV, anti-fungal, anti-bacterial, and even reduce
odors. They are also adaptable and get softer with every wash, making them
ideal for use in a wide range of products, from clothing to home textiles. This
unique combination of sustainability and superior functionality makes
Canvaloop’s fibers a desirable option for both manufacturers and consumers looking
for more responsible alternatives.
The Growing Demand for Sustainable Textiles
The COVID-19 pandemic, while challenging for many
businesses, had an unexpected benefit for Canvaloop. With increasing awareness
of environmental issues, many textile brands began looking for ways to reduce
their carbon footprint, leading to a surge in demand for sustainable fabrics.
This shift toward more responsible manufacturing practices presented Canvaloop
with significant opportunities to expand its market share. The company quickly
gained traction among leading textile manufacturers, who recognized the value
of using Canvaloop’s fibers in their products.
The Future: Continuing the Mission of Sustainability
Looking ahead, Shreyans Kokra and Canvaloop are determined
to continue making a positive impact on the textile industry and the planet.
The company is focused on further developing its technology and expanding its
reach, with a clear goal of making sustainable fabrics the norm in the
industry. Shreyans remains passionate about solving the pressing environmental
issues related to textile production and is dedicated to ensuring that
Canvaloop contributes to a cleaner, greener, and more sustainable future for generations
to come.
A timeline for Shreyans Kokra's journey:
Early Education (Date Unknown): Graduates with a Bachelor's
in Accounting and Finance from Narsee Monjee College.
Further Studies (Date Unknown): Completes ATC from the
Institute of Chartered Accountants of India and MSEL in Entrepreneurship from
Babson College.
Turning Point (2015): Discovers the environmental impact of
the textile industry while studying at Babson College.
Founding Canvaloop (2017): Starts Canvaloop, focusing on
eco-friendly fabrics made from agricultural waste.
Early Struggles (2017-2019): Faces challenges in developing
sustainable fabric technology.
Breakthrough (2019): Creates a unique process for converting
agricultural waste into textile-grade fibers.
Addressing Pollution (2019): Targets textile industry
pollution and agricultural waste burning in India.
Canvaloop’s Recognition (2020): Gains recognition for
sustainability and receives a ₹2 Crore investment on Shark Tank India.
COVID-19 and Growth (2020-2021): Sees a surge in demand for
sustainable textiles due to increased environmental awareness.
Ongoing Mission (2024): Continues to develop sustainable
textiles and expand Canvaloop's impact on the industry.
