Paris-based Altrove Secures $10M to Boost AI-Driven Alternatives to Critical Materials
Altrove, a deeptech company based in Paris, has developed rare-earth-free and cobalt-free magnetic materials for high-performance motors. The startup recently raised $10 million in seed funding to scale production of sustainable, AI-designed alternatives to critical raw materials like rare earths.
Funding Round and Investors
The funding round was led by Alven, with contributions from Bpifrance’s Digital Venture fund, Contrarian Ventures, and Emblem. This brings Altrove’s total funding to $14 million. Earlier investors include Entrepreneurs First and prominent angels such as Thomas Clozel (Owkin), Julien Chaumond (Hugging Face), Thomas Plantenga (Vinted), and Michal Valko (formerly Meta).
Company Background and Growth Plans
Founded in 2024 by Thibaud Martin and Laulainen, Altrove intends to use the new capital to expand its laboratories, enlarge its team, and scale up production of AI-designed materials from gram scale to industrial volumes within two years.
Innovative Technology for Material Independence
Altrove is creating AI-predicted materials aimed at reducing dependence on imported resources and enhancing Europe’s industrial sovereignty. The company’s proprietary platform integrates artificial intelligence, automated lab synthesis, and self-learning characterization.
This approach accelerates material discovery from a process that traditionally takes years down to weeks.
“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’s breakthrough technology has the potential to transform critical material supply chains by offering sustainable, locally produced alternatives.
Author’s summary: Altrove’s $10M seed raise enables scaling AI-designed rare-earth-free materials production, advancing sustainable alternatives that boost European industrial independence.