Series A · Industrial tech
altM closes $10.3 million Series A to scale biomass-derived chemicals
The Bengaluru company will expand manufacturing and customer qualification as it takes specialty chemicals from pilot production toward commercial supply.
altM announced a $10.3 million Series A on November 5. Rainmatter and Mela Ventures joined existing backers Omnivore, Theia Ventures, Aureolis Ventures and Spectrum Impact, with VC Grid also participating.
The capital will support manufacturing, research, customer qualification and engineering and commercial teams. altM converts agricultural residue into industrial ingredients, with initial products for suncare and personal care formulations.
Use of funds
Expand manufacturing capacity
Advance research and development
Support customer qualification
Grow engineering and commercial teams
Funding history
Series A · This round$10.3M
Seed$3.5M