Paris-based Altrove raises $10M to accelerate AI-designed alternatives to critical materials

Paris-based deeptech startup Altrove has secured $10 million in seed funding to accelerate the development and production of AI-designed sustainable alternatives to critical materials. This advancement is significant because it directly addresses the European Union's growing need to reduce its dependence on imported resources, thereby strengthening industrial sovereignty and technological independence. The funding round was led by Alven, with contributions from Bpifrance’s Digital Venture fund, Contrarian Ventures, and Emblem, bringing Altrove’s total funding to $14 million. Founded in 2024 by Martin and Laulainen, the company's proprietary platform combines AI, automated lab synthesis, and self-learning characterization to expedite material discovery. Altrove plans to use the investment to expand its laboratories, grow its team, and scale production from grams to industrial volumes within two years. Altrove's AI-predicted materials target sectors like automotive, energy, and heavy industry, aiming to provide alternatives to rare earths and other critical resources. By developing rare-earth-free and cobalt-free magnetic materials, and lead-free compounds for sensors, the company is positioning itself to support a transition towards more sustainable and self-reliant European industries. This approach reduces reliance on imports, impacting various industries that rely on critical materials. With over a dozen partnerships secured and first products anticipated within two years, Altrove is poised to make a substantial impact on the European digital and industrial landscape. This initiative is a testament to the potential of AI in driving innovation and supporting Europe's strategic objectives of technological leadership and resource independence.