altM Raises $10.3M Series A Led by Rainmatter and Mela Ventures

5 Nov 2026, 12:08 pm · 11h ago · 1 min read · Siliconindia

Amount

$10.3M

Stage

Series A

Lead

Rainmatter, Mela Ventures

Bengaluru-based specialty chemicals startup altM has secured $10.3 million in a Series A funding round led by Zerodha-backed Rainmatter and Mela Ventures. Existing investors Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact, and strategic angel investors also participated. The company develops sustainable industrial chemicals from lignocellulosic agricultural residues like sugarcane bagasse and rice straw. altM will deploy the fresh capital to transition from pilot-scale production to commercial manufacturing, bolster research and development, support customer qualification programmes, and expand its engineering and commercial teams.