Cleantech startup altM raises $10.3M in Series A led by Rainmatter and Mela Ventures to scale manufacturing of specialty chemicals from agricultural residue.
Amount Raised
$10.3 Million
Round Type
Series A
BengaluruManufacturingBiotechnologyAgriculture and FarmingInvestors
Description
Cleantech startup altM has raised $10.3 million in a Series A funding round led by new investors Rainmatter by Zerodha and Mela Ventures, with participation from existing investors Omnivore, Theia Ventures, Aureolis Ventures, and Spectrum Impact. The Bengaluru-based company will use the capital to expand manufacturing, build its sales pipeline, and continue R&D investments. altM plans to set up a 1,000-tonne-per-year commercial manufacturing facility by 2028 and scale to 10,000 tonnes annually over five years. Founded by former Tesla executives, the company develops specialty chemicals and biomaterials from agricultural residues for applications in beauty, textiles, construction, and consumer goods.
Quick answer
altM raised $10.3 Million in a Series A round, dated November 5, 2026. Investors: Spectrum Impact, Aureolis Ventures, Omnivore, Theia Ventures, Rainmatter, Rainmatter By Zerodha and Mela Ventures. altM is based in Bengaluru, Karnataka, India.
- How much did altM raise?
- altM raised $10.3 Million in a Series A round on November 5, 2026.
- Who invested in altM?
- Spectrum Impact, Aureolis Ventures, Omnivore, Theia Ventures, Rainmatter, Rainmatter By Zerodha and Mela Ventures are named as investors in this round.
- What does altM do?
- altM is a cleantech startup founded in 2022 by former Tesla executives that develops specialty chemicals and biomaterials from agricultural residue for industrial applications.
- Where is altM based and how big is it?
- altM is based in Bengaluru, Karnataka, India. Fundz records about 27 employees.
- Who are the decision-makers at altM?
- Fundz holds 4 contacts at altM, including the CEO & Co-Founder. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Agriculture and Farming and Manufacturing around the same time
Companies in the same sectors as altM that raised within 45 days of this round, from Fundz verified event records.
- Pythag Tech raised $4.3M (Seed) on October 22, 2026.
- XTPL raised $6.5M on November 13, 2026.
- Biomatter raised $18M (Series A) on November 12, 2026.
- Mosaic Intelligence Labs raised $47M (Seed) on November 10, 2026.
- FluoRok raised $30M (Series A) on November 5, 2026.
- MyoPax raised an undisclosed amount (Pre-Seed) on November 4, 2026.
Who to call at altM, and when
A new round usually means altM is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day altM raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at altM, from your own LinkedIn network
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