CanvaLoop at Shark Tank India Season 3, CanvaLoop founders, funding, and valuation

Shark Tank India is an Indian business series. The show is the Indian franchise of the American show Shark Tank. Several startups present their creative and innovative business ideas to a panel of judges and aim to secure funding. Judges evaluate the valuation of the business and provide funding to the startups in exchange for either ownership stakes or a specific percentage of equity in the company.  The judges also provide valuable mentorship to help these startups navigate challenges they may encounter in their startup journey.

This season, the lineup of judges for Shark Tank features:

Aman Gupta - Co-founder and CMO of Indian electronics brand boat Lifestyle.

Anupam Mittal - CEO & Founder of People Group and Shadi.com.

Namita Thapar - Executive director of Emcure Pharmaceuticals. 

Azhar Iqubal- Co- founder & CEO of Inshorts.

Radhika Gupta - MD & CEO @Edelweiss Mutual Fund.

Shark Tank - Canvaloop 

Shreyansh Kokra and Nandini Kokra are founders of Canvaloop fibre. He is from Surat. Shreyansh's primary education is in finance and he was working in Barclays Investment Banking. Then he went to the US to do his Masters. 

She is from Patna, Bihar and she did her MBA and she said that her studies and Shreyansh's goal aligned, then both of them together took Canvaloop forward. They were seeking Rs. 1 Cr. for 1.33 % Equity, valuing the company at Rs. 75 Cr.

What does Canvaloop do? 

Canvaloop is a Bio-material science company that converts agriculture waste into textile fibres and yarns using a zero-waste proprietary technology. It manufactures and sells fibres and yarns. Benefits of canvaloop's fibres over cotton and conventional polyester. It Consumes 99% less water, 87% Less carbon emissions and Utilise 82% less energy. It’s functional features Anti-UV, Anti- Microbial, Breathable &Adaptable to different weather conditions. 

Canvaloop Net worth and valuation

Canvaloop  Valued at Rs 50 crore when they presented their idea to Shark Tank India.

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What did the Sharks say?

All 5 Sharks were impressed with this business. 

Anupam and Azhar initially offered Rs. 1 Cr. For 1.5% equity and valuing the company at Rs. 66.67 Cr.

Meanwhile, Aman, Namita and Radhika offered Rs. 1 Cr. for 1.33% Equity and valuing the company at Rs. 66.67 Cr.

Nandini and Shreyansh countered with an offer Rs. 2 Cr. For 3% Equity and valuing the company at Rs. 66.67Cr.

Finally, Aman, Anupam , Azhar, Namita and Radhika came together to make a joint offer of Rs. 2 Cr. for 4% equity and valuing the company at Rs. 50Cr.

They accepted this offer and the deal was closed on these terms.

Conclusion

It was an engaging episode where participants successfully secured deals with all five sharks and received valuable mentorship to help grow their businesses. Now, everyone is eagerly awaiting the next episode, looking forward to discovering more intriguing businesses and their strategies for raising funds from the panel of judges.

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Read more- Namakwali at Shark Tank India - Namakwali Net worth and Funding