Altrove Raises €3.7 Million to Advance Sustainable Material Alternatives

Altrove, a deeptech startup based in Paris, has secured €3.7 million in a pre-seed funding round.

• Major Contributors: Led by Contrarian Ventures, Emblem, and prominent angel investors including Thomas Clozel (CEO of Owkin), Julien Chaumond (CTO of HuggingFace), and Nikolaj Deichmann (from 3Shape).

• Funding Boost: Altrove secures €3.7 million to accelerate development of sustainable alternatives to critical materials, particularly rare-earth compounds.

• Innovative Approach: They focus not just on predicting new materials but on scaling their production with advanced characterization technology, speeding up experiments by up to 100 times.

• Market Demand: With European demand for rare earth elements projected to surge, Altrove aims to reduce reliance on China, which controls over 90% of global supply chains.

• Big Picture: Altrove’s solutions mitigate economic and geopolitical risks by providing eco-friendly alternatives crucial for the energy transition.

Partnering with industries such as automotive, defense, and electronics, Altrove is poised to transform sustainable technology.