Tengiva, Canada’s digital supply chain platform for the textile industry, has announced that it has raised $4.95 million in seed funding. The funding round was led by Fonds Ecofuel with participation from Inovia, Anges Québec, Active Impact Investments, and N49P. The Tengiva platform enables real-time and online sourcing of textiles for apparel brands.
The funds raised include $1.7 million in commercialisation funding from the Investissement Qu̩bec Innovation Programme and a $100,000 grant from the Sustainable Development Technology Canada (SDTC) Seed Funding programme. Textile production is a trillion-dollar industry, and still mostly managed offline without much modern digitisation Рuntil now. Tengiva was created to solve some of the biggest industry challenges, which for emerging clothing designers is the ability to source materials quickly, cost effectively, and sustainably, the company said in a press release.
By modernising the complex and outdated months-long sourcing and distribution process used in the textile industry, Tengiva is making it easier for clothing brands to seamlessly source the textiles needed directly from manufacturers in the quantities they need, while enabling sellers to build their online presence, easily showcase their materials to develop new business relationships, and reach new markets.
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