Tengiva, a Montreal, Canada-based digital supply chain platform for the textile industry, raised CAD$4.95m in seed funding.
The round was led by Fonds Ecofuel with participation from Inovia, Anges Québec, Active Impact Investments, and N49P. The funds raised include $1.7 million in commercialization funding from the Investissement Québec Innovation Program and a $100k grant from the Sustainable Development Technology Canada (SDTC) Seed Funding program.
The company will use the funds to commercialize its platform, build its warehouse, and execute on its global expansion strategy.
Co-founded by Annie Cyr, CEO and Carlos Agudelo, COO and CSO, Tengiva is a digital supply chain platform for the global textiles industry. Today, the system enables real-time and direct online sourcing of textiles for apparel brands in 30 countries around the world. In addition to enabling access to materials across the supply chain, Tengiva also takes a holistic approach to addressing sustainability, which is a significant issue faced by the textiles industry. By centralizing and providing structured access to data for textiles manufacturers and apparel brands, it aims to optimize resource usage, increase transparency across the entire supply chain, and promote better practices – such as CO2 emissions calculations, material combination recyclability, and recommendations around production processes that lower the environmental impact and reduce chemical usage.
FinSMEs
04/05/2022