altM raises $10.3M Series A to produce biomaterials
The Bengaluru startup will scale manufacturing and sales for chemicals made from crop waste.
altM, a Bengaluru-based producer of specialty chemicals and biomaterials from agricultural waste, has secured $10.3 million in a Series A equity round [0]. The financing was co-led by Rainmatter and Mela Ventures, with participation from Omnivore, Theia Ventures, Aureolis Ventures, and Spectrum Impact, according to reporting by Inc42 [0].
Founded in 2022 by Apoorv Garg and Yugal Raj Jain, altM converts crop residue into bio-derived materials and functional chemical ingredients for industrial buyers [0]. The startup focuses on providing non-fossil alternatives to conventional industrial manufacturing processes [0].
The business plans to allocate the capital toward expanding its manufacturing operations, accelerating research and development, and building out commercial sales [0]. Apoorv Garg, CEO and co-founder of altM, noted that "the major influx will be on sales" as the team works to scale distribution [0].
Questions and answers
Who led altM's Series A round?
Rainmatter and Mela Ventures co-led the $10.3 million Series A round.
What does altM produce?
altM develops specialty chemicals and biomaterials derived from agricultural waste for industrial applications.
How does altM plan to spend the capital?
The funds will support manufacturing expansion, sales growth, and continued research and development.
Companies & investors in this story
Sources
- 1.Cleantech Startup altM Raises $10.3 Mn To Scale Manufacturing — Inc42, Nov 5, 2026
