Shark Tank India 3: Canvaloop Leaves All The Sharks Impressed, Strikes An Impressive Deal

A green wave has hit the sets of Shark Tank India 3 as it gears up for its Ecopreneur Special. The Ecopreneur Special is an episode dedicated to sustainable and environment friendly businesses. With the spotlight on sustainability, the Ecopreneurs are ready to impress the Sharks and viewers alike with their ideas and innovations. Canvaloop, a bio-material science company, Founded by Shreyans Kokra and Nandini Sarraf Kokra aims to reduce agricultural waste by converting it into sustainable fiber and yarns. As compared to cotton, polyester and nylon, Canvaloop drastically reduces water and energy consumption and carbon emissions with its zero waste proprietary technology used in their production process.

While talking about his experience on Shark Tank India Shreyansh said, "Coming on Shark Tank India was a bit overwhelming, but meeting the sharks was truly a dream come true! They made us feel comfortable, and we enjoyed answering their numerous questions. It was especially insightful to see how their feedback helped refine our pitch and strengthen our strategy. One memorable moment was when Namita started answering questions on our behalf, showcasing their deep engagement with our business. Overall, the experience was invaluable and incredibly rewarding."

Currently converting 200 tons of agricultural waste into 40 tons of textile grade fiber every month, Shreyans and Nandini aspire to convert 1 lakh ton of the annual textile fiber consumption to agri-waste fiber within the next five years. They were successfully able to intrigue all the Sharks with their purpose and vision, especially Aman Gupta and Namita Thapar who were impressed by the order commitment they have received for the next financial year. Seeking a funding of 1 crore for 1.33% equity, Canvaloop received all the Sharks. Eventually, they struck a deal of 2 crores for 4% equity with Radhika Gupta, Namita Thapar, Aman Gupta, Anupam Mittal and Azhar Iqubal.

To witness Canvaloop weave its magic, tune in to Shark Tank India 3, only on YouTube Sony LIV!