Fundz

AltMat has secured a landmark funding round led by Rainmatter by Zerodha and H&M Group, focusing on transforming agri-waste into textile fibers.

PRIVATEOct 06, 2025

Round Type

Funding Round

AhmedabadManufacturingFarming

Investors

TurbostartFashion For GoodRainmatter By ZerodhaH&M Group

Description

AltMat has closed a significant funding round with investments from Rainmatter by Zerodha, H&M Group, Turbostart and Fashion for Good. This round highlights H&M’s first investment in India's material innovation sector. The Ahmedabad-based company turns agricultural residue into natural textile fiber, addressing both agricultural waste and pollution. With this support, AltMat aims to significantly progress in its mission to innovate within the textile industry.

Who else raised in Farming and Manufacturing around the same time

Companies in the same sectors as AltMat that raised within 45 days of this round, from Fundz verified event records.

  • VM Agritech raised $18M on November 13, 2025.
  • nextProtein raised $21M (Series B) on November 4, 2025.
  • Atlantic Fish raised $1.2M (Seed) on November 4, 2025.
  • Āmua raised $811K (Seed) on November 4, 2025.
  • Lucid Group raised $300M (Funding Round) on September 4, 2025.
  • SugaROx raised $1.3M (Seed) on August 22, 2025.

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Company Information

Company

AltMat

Location

Ahmedabad, Gujarat, India

About

AltMat is a materials science company that converts agricultural residue into natural textile fiber, addressing the dual challenges of agricultural waste and textile pollution. Founded by Shikha Shah, the company aims to create a sustainable textile solution while ensuring profitability. Their flagship product, Altag, made from 100% agricultural residue, competes with conventional fibers in performance while reducing environmental impact. With support from major investors, AltMat is poised for growth and aims to reshape the textile industry towards a more sustainable future.

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AltMat raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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