Altrove Raises €3.7 Million in Pre-Seed Funding
Altrove, a Paris, France-based deep tech startup creating sustainable alternatives for critical materials, has raised €3.7 million in pre-seed funding.
The round was led by Contrarian Ventures and Emblem, with participation from notable angel investors such as Thomas Clozel (CEO Owkin), Julien Chaumond (CTO HuggingFace), and Nikolaj Deichmann (3Shape).
Founded in 2017, Contrarian Ventures is a venture capital firm headquartered in Vilnius, Lithuania. The firm invests in early-stage companies operating in the next-generation energy sector working on the sustainable energy transition in Europe and Israel.
Emblem is a venture capital firm based in Paris, France. Founded in 2023, the firm seeks to invest in pre-seed-stage companies based in France, Denmark, and Sweden.
The company will use the funding to accelerate the development of its core technology, currently focusing on substitutes for rare-earth compounds used in transition technologies, electric vehicles, and advanced electronics.
Founded in early 2024 by Dr. Joonatan Laulainen and Thibaud Martin, Altrove focuses on developing sustainable alternatives for critical materials, particularly rare-earth compounds used in transition technologies, electric vehicles, and advanced electronics. The company has developed a proprietary characterization technology that accelerates the discovery process faster than traditional methods. Altrove integrates AI-driven material discovery with automated synthesis labs to streamline material development. They collaborate with the sourcing, manufacturing, and R&D departments of leading companies in the automotive, defense, and electronics sectors to deliver rapid and practical solutions.
Funding Details
Company: Altrove
Raised: €3.7M
Round: Pre-Seed Roud
Funding Month: July 2024
Lead Investors: Contrarian Ventures, Emblem
Additional Investors: Thomas Clozel, Julien Chaumond, Nikolaj Deichmann
Company Website: https://altrove.ai/
Software Category: AI Material Discovery