Paris-based Altrove Raises $10M To Fast-Track AI-driven Sustainable Material Alternatives

The round was led by Alven with participation from Bpifrance’s Digital Venture fund, Contrarian Ventures, and Emblem, bringing Altrove’s total funding to $14M.

Founded in 2024 by Martin and Laulainen, Altrove will use the funds to expand its labs, grow its team, and scale production from grams to industrial volumes within two years.

Backed by investors such as Entrepreneurs First and angels from Owkin, Hugging Face, and Vinted, Altrove leverages AI, automated synthesis, and self-learning characterisation to accelerate material discovery from years to weeks helping Europe reduce its dependence on imported critical resources.

“Western nations cannot afford to be dependent on imports for the very materials that power electrification,” said Thibaud Martin, co-founder and CEO of Altrove.

Altrove has achieved key breakthroughs, including developing rare-earth-free and cobalt-free magnetic materials for high-performance motors, as well as non-toxic, lead-free compounds for sensors and actuators.

The company has formed over a dozen partnerships with leading players in automotive, energy, and heavy industries, with its first products set to launch within two years.

“Our technology ensures that our AI-designed materials consume the resources we want them to consume, without dependence on other nations' resources,” said Dr Joonatan Laulainen, co-founder and CTO.

About Altrove

Founded in 2024, Altrove uses AI and advanced lab technology to quickly create sustainable alternatives to rare and critical materials. By turning a process that once took decades into one that takes just months, Altrove helps industries rely less on scarce resources and build more resilient, eco-friendly supply chains.