altM raises $10.3 million to scale manufacturing and R&D for commercialization
altM, started by former Tesla manufacturing leaders Apoorv Garg and Yugal Raj Jain, just landed $10.3 million in fresh funding from investors like Rainmatter (by Zerodha), Mela Ventures, and Omnivore.
The money is set to help them ramp up manufacturing, expand research and development, and get ready for bigger commercial operations.
altM makes sustainable materials
Launched in 2022, altM transforms agricultural waste into sustainable materials used in beauty products, textiles, and even construction.
Their lineup includes a lignin-derived SPF booster for suncare applications and a cellulose-based rheology modifier.
With this funding boost, they're aiming to swap out fossil-based ingredients with greener alternatives that are both affordable and scalable, making eco-friendly choices way more accessible for different industries.