Tengiva, the first-of-its-kind digital supply chain platform for the textile industry, raises $4.95M in seed funding

MONTREAL–(BUSINESS WIRE)–Tengiva, the first digital supply chain platform for the textile industry, today announced that it has raised C$4.95 million in seed funding. The funding round was led by Ecofuel Fund with the participation of Inovie, Quebec Angels, Active Impact Investmentsand N49P. Funds raised include $1.7 million in commercialization funding from Investissement Québec’s Innovation Program and a $100,000 grant from Sustainable Development Technology Canada’s (SDTC) Seed Funding Program.

Textile production is a trillion dollar* industry, and still mostly run offline without much modern digitization – until now. Tengiva (Textiles Exchange Network) was created to solve some of the industry’s biggest challenges, which for emerging apparel designers is the ability to source materials quickly, cost-effectively and sustainably. By modernizing the complex and outdated sourcing and distribution process used in the textile industry, which takes several months, Tengiva makes it easier and more transparent for apparel brands to source from manufacturers, in the quantities they need, the textiles they need, while allowing sellers to strengthen their online presence. , easily showcase their materials to develop new business relationships and reach new markets. Today, millions of dollars of inventory is available through the Tengiva platform, including over 300 different materials that are available to brands in 30 countries around the world.

Tengiva will use the funds to commercialize its platform, build a state-of-the-art warehouse and execute its global expansion strategy.

“The textile industry is one of the oldest in the world, with the manufacture and trade of fabrics dating back thousands of years,” said Annie Cyr, CEO and co-founder of Tengiva. “While today’s consumers can easily buy fashion products online from any clothing brand in the world, the supply chain that enables the flow of textiles from factory to manufacturer of fabrics and apparel branding has not kept pace. Our platform is changing that by modernizing the global distribution and trade of textiles, ensuring that the critical steps that take place behind the scenes of every garment made and sold are as automated and streamlined as possible.

“With 7.2% of the global climate impact caused by textile production alone, the Tengiva platform is the key to better act on the important gaps in the supply chain”, said Johanne Sevigny, managing partner of the Ecofuel Fund. . “Leveraging their expertise, they have created a platform purpose-built for the industry that not only solves some of the sustainability challenges facing the sector, but also attracted early interest from textile mills and most notable clothing brands in the world.”

In addition to enabling unprecedented access to materials throughout the supply chain, Tengiva is also taking a holistic approach to addressing sustainability, which is an important issue facing the textile industry. By centralizing and providing structured access to data for textile manufacturers and apparel brands, Tengiva aims to optimize the use of resources, increase transparency across the entire supply chain and promote better practical, such as CO2 emission calculations, recyclability of material combinations and recommendations for production processes. that reduce environmental impact and reduce the use of chemicals. This approach to fostering sustainability in the textile industry has led Tengiva to attract the interest of Ecofuel Fund, a leading cleantech fund based in Montreal, and Active Impact Investments, which is the largest cleantech fund. seeding climate technologies in Canada.

In 2021, Tengiva was among 12 companies in Canada and the United States to be selected for the Google for Startups Accelerator: Women Founders. Meanwhile, Tengiva has relaunched its proprietary technology, completed beta testing of its platform, and reconfirmed its product market fit for manufacturers and apparel brands. The Tengiva platform is now ready for global commercialization, which will be one of the company’s main objectives in 2022.

Tengiva was co-founded by Annie CyrCEO and Carlos Agudelo, COO and CSO. Cyr is the author of Textile fiber guide and a respected innovator with over 15 years of experience in the textile and apparel industry. Agudelo holds a doctorate. in polymer fiber engineering for textiles and is an outstanding leader in the textile industry with over 30 years of experience in textile production operations and polymer science research.

About Tengiva

Based in Quebec, Canada, Tengiva is a digital supply chain platform for the global textile industry. The company was founded in 2018 to address the supply chain and distribution challenges faced by textile manufacturers and apparel brands. Today, the Tengiva platform enables direct, real-time online sourcing of textiles for apparel brands in 30 countries around the world. For more information, visit Tengiva.com.

*Great research review. (February 2020). Textile Market Size, Share and Trends Analysis Report by Raw Material (Wool, Chemicals, Silk, Cotton), by Product (Natural Fibers, Polyester, Nylon), by Application, by Region and Forecast segment, 2020-2027.