MONTREAL – Online sourcing platform Tengiva has secured CAD$4.95 million (US$3.85m) in seed funding, which it’ll use to accelerate its goal of global commercialisation this year.
The firm’s marketplace convenes textile industry stakeholders which can buy and sell batches of material, helping recirculate excess stock and streamline purchasing.
Annie Cyr, CEO and co-founder of Tengiva, said: “The supply chain that enables the flow of textiles from mill to fabric manufacturer to apparel brand has not kept pace. Our platform is changing this by modernising the global distribution and trade of textiles.”
