altM raises $10.3 mn to turn agricultural residue into industrial chemicals
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Bengaluru-based specialty chemicals company altM raised $10.3 million in a Series A funding round.
- ✓The firm uses agricultural residue to create industrial chemicals.
- ✓"We are building a new source of industrial carbon from agricultural residue," said CEO Apoorv Garg.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Standard
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Bengaluru-based specialty chemicals company altM has raised $10.3 million in a Series A funding round, with Rainmatter by Zerodha and Mela Ventures joining existing investors Omnivore, Theia Ventures, Aureolis Ventures and Spectrum Impact, along with strategic angel investors.
The funding will be used to expand altM's manufacturing capabilities, research and development, and customer qualification programmes.
Founded in 2022 by former Tesla manufacturing leaders Apoorv Garg and Yugal Raj Jain, with bioprocessing scientist Harshad Velankar later joining as chief scientific officer, altM is developing a specialty chemicals platform that converts agricultural residue into high-performance industrial chemicals.
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