Indian Entrepreneur@indianentrepreneurBengaluru-based altM has secured $10.3 million in Series A financing, with Rainmatter by Zerodha and Mela Ventures among the newcomers. It converts farm waste like sugarcane bagasse and rice straw into industrial materials.
Ex-Tesla production heads Apoorv Garg and Yugal Raj Jain started the company in 2022. The money will fund expanded manufacturing, R&D and customer testing as it moves past pilot runs into full commercial output.
Three of the six molecules taken to demonstration scale have been picked for pilot plant production, one being a lignin-based SPF booster for suncare.
