altM

Based in Bangalore, India, altM develops and manufactures scalable biochemicals and biomaterials from agricultural residues like rice straw and sugarcane bagasse to replace conventional petrochemical products. The company utilizes a patented thermochemical process to produce biobased ingredients, such as thickeners and industrial adhesives, for corporate customers in the cosmetics, personal care, and fast moving consumer goods sectors. Operating a B2B model, the enterprise generates early commercial revenue from its minimum viable products while constructing a pilot manufacturing facility designed with a 50 ton annual production capacity. To support its engineering, manufacturing, and research capabilities, the firm raised $3.5 million in a 2023 seed funding round led by Omnivore, with additional participation from Theia Ventures and Thai Wah Ventures. The biomaterials startup altM was officially founded in 2022 by Apoorv Garg, Yugal Raj Jain, and Harshad Velankar.